Heating oil price slips today, but distillate stock squeeze keeps traders on edge
U.S. heating oil futures fell 0.8% to $2.59 a gallon Friday, easing after a rally sparked by a sharp drop in distillate inventories, EIA data showed. Distillate stocks dropped 4.6 million barrels to 120.1 million, about 5% below the five-year average. Brent crude slipped to $71.47 a barrel as traders watched U.S.-Iran tensions. National average residential heating oil reached $4.075 a gallon.