June heating oil prices experienced a gap lower open Tuesday evening, even in the face of private industry data that showed another sharp drawdown in distillate stocks. Prices plunged to a new low for the decline, and were off 9.7% from their late April high to the overnight low. Expectations for this morning's EIA data are for a draw in distillate stocks of around 500,000 barrels. This compares to the five year average build for this week of the year of 700,000.
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