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Morning Heating Oil Market Report

July heating oil traded higher during the overnight session, but it has since turned into negative territory. Wednesday's EIA distillate stocks report showed a 105,000 barrel draw, which might have been tugged lower from boost in Midwest agricultural demand. EIA distillate stocks stand at 15.801 million barrels below last year but are 6.737 million above the five year average. Distillate imports came in at 125,000 barrels per day compared to 155,000 barrels the previous week. Average total distillate demand for the past four weeks was down 3.57% compared to last year. EIA heating oil stocks rose 1.317 million barrels.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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