13.05.202601:56:10UTC+00Heating Oil Hovers Near 5-Week High

Heating oil futures for delivery at New York Harbor eased to about $4.10 per gallon, but retained most of their recent gains and remained near a five-week high. The ongoing conflict in the Middle East, with no clear path to resolution, continues to disrupt regional energy supplies. US President Donald Trump has rejected Tehran’s latest response to a proposed peace framework, effectively keeping the Strait of Hormuz closed. Maritime traffic through this critical chokepoint has been halted since early March, interrupting the flow of nearly 20 million barrels per day of crude oil and refined products to major importing nations. In response, refineries across Europe and Asia have reallocated production toward diesel and jet fuel, reducing gasoline output. At the same time, the National Weather Service is forecasting a strong likelihood that most of the United States will see above-normal temperatures over the next 6–10 days, which could soften near-term demand for heating oil.