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15.10.202602:13:46UTC+00Heating Oil Prices Decline

US heating oil futures fell to about $4.85 per gallon on Thursday, trimming recent gains in tandem with crude prices as investors weighed a US proposal to relax sanctions on so‑called shadow fleet tankers in an effort to lower shipping costs and ease oil flows. The talks come after President Donald Trump temporarily loosened sanctions on Russian diesel exports last week. However, analysts have cast doubt on the move’s ability to meaningfully reduce fuel prices, citing the relatively small volumes involved.

At the same time, Russia accused Ukraine of attacking two oil refineries, including the 400,000‑barrel‑per‑day Ryazan plant, intensifying uncertainty over the viability of the energy truce announced by Trump. Ongoing attacks on vessels near the Strait of Hormuz are also heightening risks to global oil trade routes.

Separately, data from the American Petroleum Institute (API) showed that US distillate inventories declined by 1.5 million barrels in the week ended October 9, underscoring tightening supplies.

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