September heating oil opened the Tuesday evening session sharply higher, helped in part by upside reversal action yesterday. The market seemed to catch a lift from FOMC post meeting comments indicating that interest rates would stay near record low levels for another two years. The market also seemed to benefit from private inventory data that showed an unexpected decline in US distillate supplies. That read is different that expectations calling for this morning's EIA report to show an increase of around 1.0 million barrels.
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