Morning Heating Oil Market Report

By Roger Baettig | May 09 2012 10:36 AM

June heating oil broke a five day losing streak yesterday but failed to extend those gains during the initial morning hours. Some traders pointed to a weak macroeconomic tone and selloff in Brent crude oil as forces weighing on the heating oil market. Expectations for this morning's EIA inventory data are for a fractional build in distillate supplies last week of 200,000 barrels, which compares to the five year average build of 700,000 barrels.

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