Weather model updates from ECMWF support above-average heating demand for February, directly influencing heating oil futures to stay near recent highs. The change was not only representative of the current administration's U-turn away from investments in renewable energy and combating rising global temperatures. It also was part of a pattern of diverting or withholding funds that were legally appropriated by Congress, which has raised separation of powers concerns. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. Analysts note heating oil futures have been trading within a $2.55-$2.70 range, with recent upside momentum driven by lower distillate inventories. EIA’s latest report shows stockpiles at a 5-year low, hinting at possible price acceleration.
