December heating oil prices are on a higher track this morning but remain trapped inside the recent trading range. Early support for heating oil has come from a big boost in risk-taking sentiment after EU leaders came to an agreement on a plan of action to resolve the region's debt crisis. Another supportive feature comes from yesterday's EIA inventory data that showed a much larger than expected draw in distillates, especially in low sulfur diesel, which some saw as a sign of and improving economy. The data might also suggest that supplies have become tight. EIA distillate stocks fell 4.275 million barrels, which was quite a bit larger than expected. Current supply levels are 22.978 million barrels below last year and 2.408 million below the five year average. Distillate imports came in at 147,000 barrels per day compared to 107,000 barrels the previous week. Average total distillate demand for the past four weeks was up 7.49% compared to last year. EIA heating oil stocks fell 249,000 barrels to 15.320 million barrels below last year and 12.164 million below the five year average.