April heating oil prices traded lower throughout the early morning hours and registered a lower low in the process. In addition to a weak outside tone this morning, it is possible that heating oil prices also reacted to the latest readings from the National Weather Service, which estimated heat-related demand this week to come in around 16.5% below normal. The Commitments of Traders Futures and Options report as of February 21st showed non-commercial traders were net long 26,465 contracts, an increase of 3,672. Non-commercial and non-reportable traders combined held a net long position of 53,923 contracts, an increase of 5,287 in their net long positioning.