Heating oil traded around $2 per gallon, its highest level since December 2019, on prospects that demand will rebound further in the second half of the year as vaccination rollout gathers pace. Operations at the Colonial Pipeline are expected to restart at the end of the week, after a ransomware cyberattack last Friday forced a temporary shutdown. This pipeline is the source of nearly half of the US East Coast's fuel supply, transporting 2.5 million barrels per day of gasoline and other fuels. Meantime, the latest EIA Petroleum Status Report showed US heating oil inventories fell for the second consecutive week in the April 30th week.

Historically, Heating oil reached an all time high of 4.16 in July of 2008. Heating oil - data, forecasts, historical chart - was last updated on May of 2021.

Heating oil is expected to trade at 1.92 USD/GAL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.68 in 12 months time.

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Heating oil


Heating oil
Heating oil, also known as No. 2 fuel oil, accounts for about 25% of the yield of a barrel of crude, the second largest "cut" after gasoline. The heating oil futures contract trades in units of 42,000 gallons (1,000 barrels) and is based on delivery in New York harbor, the principal cash market trading center. The heating oil futures contract is also used to hedge diesel fuel and jet fuel, both of which trade in the cash market at an often stable premium to NYMEX Division New York harbor heating oil futures. The Heating Oil market prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Energy Price Day Weekly Monthly YTD Date
Crude Oil
USD/Bbl
64.1700 0.75 -1.16% -2.31% 7.49% 32.25% May/11
Brent
USD/Bbl
67.6100 0.71 -1.04% -1.84% 6.84% 30.52% May/11
Natural gas
USD/MMBtu
2.9130 0.02 -0.65% -1.82% 13.74% 14.73% May/11
Gasoline
USD/Gal
2.1188 0.01 -0.68% -1.51% 7.55% 50.26% May/11
Heating oil
USD/Gal
2.0008 0.02 -0.78% 0.10% 10.66% 34.82% May/11
Ethanol
USD/Gal
2.3400 0.00 0.00% -4.10% 22.83% 63.29% May/10
Naphtha
USD/T
592.43 1.07 0.18% 1.85% 10.06% 36.91% May/10
Propane
USD/Gal
0.81 0.01 0.74% 0.07% -4.13% 24.71% May/10
Uranium
USD/Lbs
30.7500 0.25 0.82% 5.13% 2.16% 0.16% May/10

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
1,836.20 0.76 0.04% 3.25% 5.98% -3.18% May/11
Silver
USD/t.oz
27.417 0.11 0.39% 3.34% 10.35% 4.01% May/11
Platinum
USD/t.oz
1,246.74 0.18 -0.01% 0.75% 6.56% 16.96% May/11

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
1,619.2500 0.75 -0.05% 2.68% 17.17% 23.91% May/11
Wheat
USd/Bu
741.0000 1.75 0.24% 0.54% 17.99% 15.69% May/11
Lumber
USD/1000 board feet
1,601.00 85.00 -5.04% 1.61% 38.32% 83.37% May/10
Palm Oil
MYR/T
4,341.00 27.00 -0.62% 7.40% 18.93% 20.58% May/11
Cheese
USD/Lbs
1.8110 0.00 0.22% 6.22% 4.50% 10.02% May/10
Milk
USD/CWT
18.86 0.04 0.21% 6.92% 5.60% 19.37% May/10
Orange Juice
USd/Lbs
113.55 3.25 2.95% 5.29% 3.89% -7.87% May/10
Wool
AUD/100Kg
1,319.00 0.00 0.00% -1.71% 1.46% 12.64% May/10
Rice
USD/cwt
13.8800 0.23 -1.60% 3.43% 5.95% 13.40% May/10
Canola
CAD/T
1,015.30 30.00 -2.87% 12.32% 25.80% 61.29% May/10
Tea
USD/Kgs
2.91 0.00 0.00% 5.05% 9.81% 1.39% May/10
Coffee
USd/Lbs
148.35 2.60 -1.72% 5.70% 15.81% 15.67% May/10
Sugar
USd/Lbs
17.48 0.01 -0.06% 2.10% 13.88% 12.85% May/11
Cotton
USd/Lbs
87.94 0.53 -0.60% 1.78% 9.73% 12.57% May/11
Oat
USd/Bu
390.2500 12.75 -3.16% -2.80% 4.84% 8.18% May/11
Rubber
JPY/Kg
257.00 4.40 -1.68% 0.00% 15.25% -4.39% May/11
Cocoa
USD/T
2,473.00 51.00 2.11% 6.23% 4.48% -4.99% May/10
Corn
USd/BU
745.2500 2.75 -0.37% 0.07% 30.98% 53.98% May/11

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
20.28 0.10 -0.49% -0.59% -0.78% 11.80% May/10
Poultry
BRL/Kgs
7.17 0.00 0.00% 6.86% 15.46% 19.30% May/10
Feeder Cattle
USd/Lbs
135.4500 3.73 2.83% 1.80% -6.26% -2.52% May/10
Live Cattle
USd/Lbs
118.2250 2.20 1.90% 2.54% -3.67% 2.78% May/10
Lean Hogs
USd/Lbs
111.9000 0.08 -0.07% 1.08% 8.09% 59.23% May/10

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
4.7845 0.05 1.08% 5.48% 18.72% 35.96% May/11
Coal
USD/T
94.20 2.45 2.67% 4.55% 6.80% 15.98% May/10
Steel
CNY/T
5,703.00 229.00 4.18% 6.36% 13.24% 35.14% May/10
Iron Ore
USD/T
228.00 21.00 10.14% 21.93% 33.33% 43.85% May/10
Lithium
CNY/T
90,000.00 0.00 0.00% 0.00% 0.00% 93.55% May/11
Bitumen
CNY/T
3,010.00 68.00 -2.21% -1.57% 9.85% 26.36% May/11
Aluminum
USD/T
2,566.50 36.75 1.45% 5.73% 14.24% 29.57% May/11
Tin
USD/T
29,610.00 165.00 -0.55% 1.35% 15.39% 45.75% May/11
Zinc
USD/T
3,012.25 20.50 0.69% 2.01% 9.23% 9.50% May/11
Palladium
USD/t.oz
2,975.86 15.78 0.53% -0.26% 11.22% 21.58% May/11
Cobalt
USD/T
45,165.00 0.00 0.00% 0.00% -9.22% 40.31% May/10
Lead
USD/T
2,194.75 25.45 -1.15% 2.70% 12.30% 11.08% May/10
Nickel
USD/T
17,738.00 314.50 -1.74% 0.48% 10.26% 7.16% May/10
Molybdenum
USD/Kg
27.00 0.00 0.00% 0.00% -3.74% 14.89% May/10
Soda Ash
CNY/T
1,762.00 0.00 0.00% 0.57% 0.57% 31.49% May/10
Neodymium
CNY/T
695,000.00 0.00 0.00% 0.00% -9.15% 11.65% May/10
Iron Ore 62% fe
USD/T
215.48 11.13 5.45% 16.45% 25.99% 38.27% May/10
Manganese
CNY/T
31.50 0.00 0.00% 2.44% 4.13% 0.80% May/10
Rhodium
USD/t oz.
28,400.00 500.00 -1.73% -3.73% -0.35% 67.06% May/10

Index Price Day Weekly Monthly YTD Date
CRB Index
Index Points
219.09 0.86 -0.39% 2.64% 10.59% 22.88% May/10
LME Index
Index Points
4,378.30 21.60 -0.49% 4.79% 14.84% 28.23% May/10
S&P GSCI
Index Points
2,500.64 10.97 -0.44% 2.16% 10.68% 26.49% May/10