18.05.202601:26:13UTC+00Heating Oil Extends Gains

US heating oil futures climbed above $4.10 per gallon, edging closer to a near six-week high amid mounting concerns over prolonged supply disruptions in the Middle East. President Donald Trump has maintained a hardline stance toward Tehran, with talks between Washington and Iran stalled and the Strait of Hormuz remaining largely closed. Anxiety intensified following reports over the weekend that energy facilities in the Persian Gulf had been hit, further disrupting shipments of refined fuel products from the region. Since the conflict began in March, these flows have been severely curtailed, tightening refinery supplies and pushing heating oil futures to a record high of $4.60 per gallon. At the same time, recent EIA data showed an unexpected increase in US distillate fuel inventories in early May, while gasoline stockpiles fell, indicating that refineries have been prioritizing diesel and jet fuel production amid a global shortage of transportation fuels.