March heating oil prices established a higher high during the early morning hours that challenged the July high. While US heat-related demand for heating oil remains under pressure from a warmer than average winter, it appears that heating oil prices have drafted support from a surge in European gasoil prices. Some traders indicated that some of the added support in the heating oil market might have come in response to news that China's Sinopec is expected to raise retail diesel prices by around $47 per ton starting tomorrow.