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30.09.202612:17:34UTC+00Heating Oil Rises as Diesel Supply Tightens Ahead of Winter

Heating oil futures have risen above $4.70 per gallon, moving closer to the mid-September record of $5.20, as tightening diesel supplies intensify pressure on fuel markets ahead of winter. Russia has extended restrictions on most diesel exports through October and continues to limit shipments of bunker fuel and gasoil. These measures were originally imposed after Ukrainian attacks on Russian refineries cut processing rates and have been repeatedly renewed since July. Before the curbs, Russia accounted for roughly 10% of global seaborne diesel supply, making the loss of these volumes especially consequential amid ongoing disruptions related to the Strait of Hormuz. In the United States, President Donald Trump is weighing potential limits on diesel exports as a way to curb domestic price increases.

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