empty
 
 

08.07.202601:10:32UTC+00Heating Oil Rises to 3-Week High

US heating oil prices climbed toward $3.40 per gallon, reaching a three-week high, after Washington launched new strikes against Iran in response to a series of attacks on vessels in the Strait of Hormuz. At the same time, the US Treasury revoked a sanctions waiver that had allowed Tehran to export oil, rolling back a key element of the interim peace agreement.

These developments heightened fears of renewed disruptions in global energy markets and undermined earlier expectations of a supply surplus driven by higher OPEC+ production quotas and increased output from the Middle East.

Prices also found support from persistent concerns over distillate supplies, as Ukrainian drone attacks continued to hamper refinery operations in Russia. The latest strike hit Russia’s largest oil refinery in Omsk, one of the longest-range operations carried out by Ukraine during the conflict, and intensified speculation that Moscow could impose a diesel export ban to alleviate domestic shortages.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $4000 more!
    In July we raffle $4000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback