April heating oil prices broke out of recent congestion to their highest level since May 2011. Some traders noted a level of concern regarding the demand situation for US heating oil. The latest data from the National Weather Service forecasted US heat-related demand for heating oil to run around 21% below normal in the coming week. While there does appear to be some export demand for diesel fuel to Europe, warmer than normal US weather conditions have kept demand in check. The Commitments of Traders Futures and Options report as of February 14th showed non-commercial traders were net long 22,793 contracts, a decrease of 5,427. Non-commercial and non-reportable traders combined held a net long position of 48,636 contracts, a decrease of 4,227 during the report week.