January heating oil prices established a higher high during the early morning hours, but it has struggled to hold onto those gains. Some cash traders noted that the recent increase in refining margins inspired greater Midwest distillate production, and that has pressured prices. Expectations for this week's EIA distillate inventory data are for another weekly build, this time in the range of 1.0 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.