Home heating oil futures saw volatility spike to a three-month

Home heating oil futures saw volatility spike to a three-month high as traders reacted to updated winter forecasts showing colder trends in late December. Options market activity shows increased call buying. As of 2020, some 550,000 Connecticut homes relied on heating oil, according to the U.S. Energy Information Administration, versus 670,000 that use natural gas and the rest using wood, propane or electric furnaces. Two entities provide assistance for homeowners needing help making oil payments: the Connecticut Energy Assistance Program and  Generation Power CT, which until this year was known as Operation Fuel. Home heating oil futures are outperforming other refined products this week, up 2.1% versus a flat gasoline market. Analysts credit strong residential heating demand and rising export flows to European markets.