Morning Heating Oil Market Report 9/05

October heating oil prices traded lower in early morning action and was the downside leader within the crude oil complex. Perhaps some of that added weakness came in response to downside action in Brent crude oil. October heating oil showed negative reversal action yesterday, with an initial push to a new high for the June - September rally, followed by a nearly $0.07 decline. Meanwhile, expectations for this week's EIA distillate report are for a draw in the range of 1.4 to 2.0 million barrels.