October heating oil traded lower during the early morning hours, seemingly in response to slowing global recovery prospects. Meanwhile, yesterday's EIA inventory data showed distillate stocks rose 709,000 barrels to stand at 18.078 million barrels below year ago levels. Distillate imports came in at 152,000 barrels per day compared to 176,000 barrels the previous week. Average total distillate demand for the past four weeks was up 1.21% compared to last year. EIA heating oil stocks fell 169,000 barrels and are 10.690 million barrels below last year and 6.319 million below the five year average.
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