May heating oil prices established a lower low during the early morning hours but were able to reverse back into positive territory. While the outside market tone took a positive turn this morning, prospects for a near-term reversal of pipeline flows out of Cushing Oklahoma, along with a breakdown in Brent crude oil prices to a new two-month low seemed to limit gains in the heating oil market. However, there was talk of firm heating oil export flows out of the US northeast to Europe, and that could be tempering the downside in May heating oil prices.