Home heating oil futures contracts moved higher following a 4%

Home heating oil futures contracts moved higher following a 4% drop in distillate supply reported by the EIA. Traders expect further inventory drawdowns to limit downside risk near-term. The most exciting thing about heat pumps is that there is still significant room for improvement, whereas we’ve pretty much maxed out on how to make combustion heating systems more efficient. West Texas Intermediate oil price forecast 2022-2026 The bid-ask spread in home heating oil futures narrowed to its lowest in months, pointing to strong liquidity as more hedgers enter the market ahead of peak heating season.