18.09.202601:38:43UTC+00US Heating Oil Prices Ease

US heating oil prices eased to around $5.05 per gallon, pulling back from the record high of $5.26 hit earlier in the week. The decline came as rising inventories and the prospect of alternative routes for Middle Eastern crude provided some relief from tight distillate supplies. According to EIA data, distillate inventories — which include diesel and heating oil — increased by 1.6 million barrels in the week ended September 11, although they remained 13% below their five-year average.

At the same time, Saudi Arabia was reportedly working to restore about half of the capacity of its East–West oil pipeline within days after drone attacks disrupted the key link to the Red Sea. The kingdom was also said to be offering additional crude cargoes to Asian refiners via ship-to-ship transfers off the port of Sohar in Oman. Nonetheless, supply risks persisted as Saudi Arabia and Iran-backed Houthi forces exchanged new strikes.

With winter approaching, distillate demand is expected to strengthen, while seasonal refinery maintenance could limit output, potentially tightening supply conditions further.