US heating oil futures were little changed at around $3.60 per gallon, after erasing gains in the previous session, as Israel and Iran agreed to halt mutual attacks following a recent escalation in violence. Israeli Prime Minister Benjamin Netanyahu said Israel is pausing strikes on Iran for now but will retaliate if Tehran attacks again, while Iranian media echoed a similar stance. The development kept hopes alive for efforts to renew the ceasefire into a broader agreement in the Middle East. While a fragile truce remains in effect, the Strait of Hormuz remains constrained under a two-sided blockade by Tehran and Washington, significantly limiting exports of distillate products from the region. Meanwhile, US distillate inventories, including diesel and heating oil, rose by 1.502 million barrels in the final week of May.

Heating Oil fell to 3.58 USD/Gal on June 9, 2026, down 0.09% from the previous day. Over the past month, Heating Oil's price has fallen 9.70%, but it is still 67.83% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Heating oil reached an all time high of 5.86 in April of 2022. Heating oil - data, forecasts, historical chart - was last updated on June 9 of 2026.

Heating Oil fell to 3.58 USD/Gal on June 9, 2026, down 0.09% from the previous day. Over the past month, Heating Oil's price has fallen 9.70%, but it is still 67.83% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil is expected to trade at 3.63 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 4.27 in 12 months time.



Price Day Month Year Date
Crude Oil 90.75 -0.566 -0.62% -7.47% 39.65% Jun/09
Brent 93.67 -0.668 -0.71% -10.11% 40.08% Jun/09
Natural gas 3.15 0.0206 0.66% 8.27% -10.82% Jun/09
Gasoline 3.06 -0.0070 -0.23% -14.98% 46.90% Jun/09
Heating Oil 3.58 -0.0117 -0.33% -9.92% 67.42% Jun/09
Ethanol 1.94 0 0% -1.27% 15.30% Jun/05
Naphtha 727.85 11.49 1.60% -16.65% 34.09% Jun/08
Propane 0.80 0.01 0.89% -8.42% 7.89% Jun/08
Uranium 85.70 -0.4500 -0.52% -0.64% 21.56% Jun/05
Methanol 3,140.00 90.00 2.95% 1.13% 37.06% Jun/08


Heating oil
Heating oil, also known as No. 2 fuel oil, is a key refined petroleum product used for residential heating, as well as a proxy for diesel and jet fuel markets. It represents a significant share of the output from a barrel of crude oil and plays an important role in both energy consumption and seasonal demand trends. Heating oil futures are traded on NYMEX and serve as a benchmark for distillate fuels, including diesel and jet fuel, which often trade in the physical market at a premium to futures prices. Each contract represents 42,000 gallons (equivalent to 1,000 barrels) and is based on delivery in New York Harbor, a principal trading and distribution hub for refined petroleum products. Heating oil prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
3.58 3.59 5.86 0.29 1980 - 2026 USD/GAL Daily

News Stream
Heating Oil Little Changed
US heating oil futures were little changed at around $3.60 per gallon, after erasing gains in the previous session, as Israel and Iran agreed to halt mutual attacks following a recent escalation in violence. Israeli Prime Minister Benjamin Netanyahu said Israel is pausing strikes on Iran for now but will retaliate if Tehran attacks again, while Iranian media echoed a similar stance. The development kept hopes alive for efforts to renew the ceasefire into a broader agreement in the Middle East. While a fragile truce remains in effect, the Strait of Hormuz remains constrained under a two-sided blockade by Tehran and Washington, significantly limiting exports of distillate products from the region. Meanwhile, US distillate inventories, including diesel and heating oil, rose by 1.502 million barrels in the final week of May.
2026-06-09
Heating Oil Futures Rise
US heating oil futures climbed above $3.70 per gallon, recovering from a two-day decline after reports showed that Iran and Israel exchanged fire, putting US efforts to secure a new interim ceasefire with Tehran at risk. Iran launched a fresh wave of attacks on Israel hours after firing ballistic missiles over the weekend. Israel retaliated with strikes on military targets in western and central Iran, while explosions were reported in Tehran. This comes even as President Donald Trump urged both sides to stop fighting and give diplomacy a chance. The latest developments raise the risk of further military escalation, which could deepen disruptions to Middle Eastern shipping routes and energy exports, intensifying tightness in global distillate markets. Meanwhile, US distillate inventories, including diesel and heating oil, increased by 1.502 million barrels in the final week of May.
2026-06-08
Heating Oil Extends Losses
US heating oil futures fell to around $3.60 per gallon in early June, extending losses from the previous session, as markets weighed the chances of a viable diplomatic resolution in the Middle East. President Trump said ceasefire talks were in the “final” stages and was reportedly reluctant to escalate into a full-scale war with Iran despite recent clashes. This was contrasted by Iran’s foreign minister, who earlier said negotiations had stalled. Adding to the uncertainty, Iran-backed Hezbollah also rejected a US-brokered ceasefire proposal in Lebanon. These developments led to continued constraints on tanker traffic in the Strait of Hormuz, which accounts for about one-fifth of global oil consumption and has remained largely shut since March. Meanwhile, distillate inventories, including diesel and heating oil, increased by 1.502 million barrels in the final week of May.
2026-06-05