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2026.02.2511:35:06UTC+00US Heating Oil Futures Fall from 3-Month High

US heating oil futures declined to $2.64 per gallon, pulling back from the nearly three-month high of about $2.70 reached on February 24, as warmer weather forecasts weighed on demand expectations. Updated outlooks now point to above-average temperatures across much of the western United States through the end of the month, curbing heating needs as winter nears its end and reducing the likelihood that a late-season cold snap will tighten supplies. At the same time, geopolitical risks remain in focus after Donald Trump asserted that Iran is rebuilding its nuclear program, stoking speculation about potential military action. Any escalation could disrupt shipments through the Strait of Hormuz, a critical corridor for roughly one-quarter of global seaborne oil and LNG trade.

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