August heating oil prices took on a higher track during the Sunday evening trade but turned lower after a failed attempt to overtake Friday's high. Some traders suggested that the heating oil market could be due for a near term correction, especially after a nearly $0.21 gain from last week's low into Friday's high. The Commitments of Traders Futures and Options report as of June 26th showed non-commercial traders were net long 3,597 contracts, a decrease of 2,311. The nonreportable traders were net short 1,306 contracts, an increase of 1,955 which represents a change from a net long to net short position. Non-commercial and nonreportable traders combined held a net long position of 2,291 contracts, a decrease of 4,266 during the report week.