December heating oil prices trended higher throughout the initial morning hours and registered a new three day high in the process. Some of the early support in the heating oil market came from modest gains in Brent crude oil and talks that the upcoming winter season could be colder than last year. This is seen as a force that could boost demand for heating oil at a time when US distillate supplies are nearly 21% below their five year average.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
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