empty
 
 

27.07.202600:52:11UTC+00Heating Oil Pulls Back

US heating oil prices fell toward $4.00 per gallon on Monday, retreating from a more than three-month high as signs of a pause in hostilities between Iran and the US eased supply concerns. A senior Iranian official stated that Tehran would halt attacks if Washington also refrains from striking, noting that this message has already been delivered to the US. Washington has held off on airstrikes since late Friday after nearly two weeks of attacks.

The pause in military action coincided with Oman-mediated talks in Tehran on a provisional arrangement to manage shipping through the Strait of Hormuz, a step that could lessen potential disruptions to oil flows. Outside the Middle East, Russian fuel supplies remained tight, with fewer than half of the refineries damaged by Ukrainian drone strikes back in operation, leaving around 45 million tonnes of annual refining capacity offline. Additionally, forecasts for warmer-than-normal weather through August 7 are expected to bolster power-sector demand.

  • 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