Heating oil price today: Futures slip below $2.40 as weather outlook, Iran talks steer market

Heating oil futures in the U.S. dipped below the $2.40 mark early Monday, with traders eyeing softer short-term demand even as crude prices held steady. By 7:05 a.m. EST, NYMEX heating oil was down to $2.3975 a gallon—a drop of 1.6 cents, or roughly 0.7%, from Friday’s $2.4133 finish. So far, prices have bounced between $2.3678 and $2.4025.

Commodities · Energy Markets · Oil Prices
Oil price holds near $68 as U.S.-Iran talks and Saudi cuts pull Brent, WTI

Oil price holds near $68 as U.S.-Iran talks and Saudi cuts pull Brent, WTI

Brent crude futures barely budged on Friday as traders awaited news from U.S.-Iran talks in Oman. Brent inched up 7 cents to $67.62 a barrel, while U.S. West Texas Intermediate also gained 7 cents, trading at $63.36 by 1055 GMT. Brent is on track for a 4.3% weekly drop—its first since mid-December. The Strait of Hormuz, through which about 20% of global oil passes, remains a focal point for any disruption concerns. “Investors are watching the U.S.-Iran talks,” said Tamas Varga, oil analyst at PVM. Capital Economics warned that geopolitical worries might give way to “weak fundamentals,” potentially driving prices down to $50 a barrel by the end of 2026.
6 February 2026
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Natural gas price pauses near $3.45 as EIA storage report looms; gas stocks mixed

Natural gas price pauses near $3.45 as EIA storage report looms; gas stocks mixed

U.S. Henry Hub natural gas futures hovered around $3.45 per million British thermal units on Thursday as traders awaited the Energy Information Administration’s weekly storage update. The market has been volatile since Monday’s 25.7% drop—the largest single-day decline since 1995. Meanwhile, gas flows to the nation’s eight largest liquefied natural gas export terminals averaged 18.3 billion cubic feet per day in February so far, close to December’s record levels. This strong export demand helped counterbalance milder weather forecasts and steady production.
5 February 2026
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Crude oil price today: Brent dips as US-Iran Oman talks go ahead; $70 still in play

Crude oil price today: Brent dips as US-Iran Oman talks go ahead; $70 still in play

Oil prices dropped over 1% Thursday after the U.S. and Iran agreed to hold talks in Oman on Friday, easing short-term supply concerns. Brent crude futures slid 86 cents, or 1.2%, to $68.60 a barrel, while U.S. West Texas Intermediate crude fell 82 cents, or about 1.3%, to $64.32 by 10:36 GMT. UBS analyst Giovanni Staunovo said Middle East tensions remain a “strong influence” on prices. John Evans of PVM Oil Associates warned Brent could be “banging on the door of $70” if the talks fail.
5 February 2026
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