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02.10.202609:15:28UTC+00Heating Oil Falls for 2nd Day

US heating oil prices fell below $4.50 per gallon on Friday, declining for a second consecutive session, as efforts to ease a global fuel shortage raised expectations of improved supply. EU member states are considering a proposal to release emergency reserves of oil and diesel, following pressure from Washington to help stabilise prices and avert potential restrictions on US fuel exports. Treasury Secretary Scott Bessent has urged European partners to contribute, while President Donald Trump has been more reluctant to impose an export ban, citing the risk of pushing domestic prices even higher. Despite the latest pullback, heating oil prices remain close to the mid-September record of $5.20 per gallon. In the US, EIA data show distillate inventories at their lowest level for this time of year since records began. Supply has been further constrained by disruptions in the Persian Gulf, Ukrainian strikes on Russian refineries, and Moscow’s decision to extend its diesel export restrictions through October.

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