Why are Heating Oil Prices so high?
23-10-2025 - Heating Oil prices fell by 1.9% over the past month, from $2.2923/gal on September 22nd to $2.2496/gal on October 22nd. The high was $2.4289/gal on September 26th, while the low was $2.1535/gal on October 16th.
Our one month forecast for Heating Oil is 2.2437 $/gal, a slight decrease of -0.0059 $/gal or -0.3% from the latest price. Our analysis shows a balanced market risk around this forecast.
Our current forecast shows that Flows data has the most significant impact, increasing the price forecast by $0.0262 per gallon. Among the Flows data, Seaborne Imports & Exports and Exchange Rates are the most influential families, contributing $0.0178 and $0.0084 per gallon, respectively. However, there is disagreement among the data types, with Flows and Technical data indicating upward price pressure, while Demand and Supply data suggest the opposite. Demand data from the Global Economy family has a negative impact of -$0.0173 per gallon, and Supply data from the Inventories family contributes -$0.0020 per gallon.
Our one month forecast for Heating Oil is 2.2437 $/gal, a slight decrease of -0.0059 $/gal or -0.3% from the latest price. Our analysis shows a balanced market risk around this forecast.
Our current forecast shows that Flows data has the most significant impact, increasing the price forecast by $0.0262 per gallon. Among the Flows data, Seaborne Imports & Exports and Exchange Rates are the most influential families, contributing $0.0178 and $0.0084 per gallon, respectively. However, there is disagreement among the data types, with Flows and Technical data indicating upward price pressure, while Demand and Supply data suggest the opposite. Demand data from the Global Economy family has a negative impact of -$0.0173 per gallon, and Supply data from the Inventories family contributes -$0.0020 per gallon.
What is the current / spot price of Heating Oil?
Heating Oil Price Today
October 23, 2025
Current Price
3.18
What is the forecast for the price of Heating Oil?
Heating Oil Price Forecast
October 23, 2025
1 Month Forecast
2.24
1 Year Forecast
3.29
What are the short-term drivers of Heating Oil prices?
What are the long-term drivers of Heating Oil prices?
Over the 1 Month horizon the outlook is moderately bearish due to drivers such as: - Seasonality trends for the prediction week of year - The shape of the futures curve Br(None) The top contrary drivers for the 1 Month horizon are: - The net positions of speculators on NYMEX - Petroleum Products exports from India - LPG imports to Malaysia
Over the 1 Year horizon the outlook is bullish due to drivers such as: - EWMA-based technical analysis - LPG imports to Korea - Movements in the US Dollar Index - The shape of the futures curve - The net positions of speculators on NYMEX Br(None)
Will the price of Heating Oil go up?
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1 Week
1 Month
3 Month
6 Month
1 Year
The Latest Heating Oil News
ChAI Blog
EIA expects heating US homes by electricity to cost more this winter than last year
October 15, 2025
Reuters
US crude stockpiles rise, fuel inventories fall on higher demand, EIA says
October 8, 2025
Argus Media
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