September heating oil prices were modestly higher during the initial morning hours following a choppy overnight session. The market managed to overcome a lower low in yesterday's session but was unable to show much upside follow through. For now, September heating oil remains in the middle of its five day trading range between $3.0606 and $3.0043. Perhaps the market is waiting for today's EIA inventory data before taking its next direction. Expectations for the report are for US distillate supplies to have risen by a slight 200,000 barrels last week.
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