March heating oil prices fell to their lowest level in 6-session during the early morning hours. While the market seemed to rebound in the wake of the positive German sentiment readings, prices remained weak heading into the US open. Some traders expressed the view that heating oil prices might have become a bit overextended to the downside into this morning low, after a more than $0.07 break from Thursday's high. While the US distillate market continues to face a warmer than normal winter, expectations for this weeks US distillate stocks are for a draw of around 1 million barrels.
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