Heating oil price today jumps as crude firms on U.S.-Iran tension, inventory data in focus

NYMEX heating oil futures edged higher Wednesday morning, with the March contract gaining 2.90 cents, or 1.2%, to $2.4383 a gallon by 6:54 a.m. EST. Prices fluctuated between $2.4162 and $2.4467, following Tuesday’s close at $2.4093.

Energy Markets · Oil Prices
Brent crude price rises toward $68 as U.S.-Iran flashpoints return, inventories loom

Brent crude price rises toward $68 as U.S.-Iran flashpoints return, inventories loom

Brent crude futures climbed 46 cents, or 0.7%, to $67.79 a barrel by 1034 GMT Wednesday, reacting to the U.S. downing an Iranian drone and reports of Iranian gunboats near a U.S.-flagged tanker, sparking fresh concerns over supply disruptions. U.S. West Texas Intermediate gained 52 cents, or 0.8%, to $63.73, though a wider equity selloff limited upside. PVM analysts noted oil “would be lower without Middle Eastern sabre-rattling.” Support also came from industry sources citing the American Petroleum Institute, which reported a drop in U.S. crude inventories of over 11 million barrels last week. Meanwhile, traders braced for official U.S. government data due at 1530 GMT; Reuters’ poll of analysts anticipates a rise in crude stocks.
4 February 2026
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Henry Hub natural gas price rebounds after historic plunge as EQT Corp, Williams Cos Inc stocks tick higher

Henry Hub natural gas price rebounds after historic plunge as EQT Corp, Williams Cos Inc stocks tick higher

U.S. natural gas futures clawed back some ground Tuesday morning, with March Henry Hub contracts rising 3.7% to $3.358 per million British thermal units. That came after Monday's staggering 25.7% plunge—the steepest single-day fall since 1995, not counting rollover periods—triggered by warmer mid-February weather forecasts.
3 February 2026
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Crude oil price today: Brent steadies near $66 after a 4% slide as Iran talks loom

Crude oil price today: Brent steadies near $66 after a 4% slide as Iran talks loom

Oil prices found some footing on Tuesday after tumbling sharply the day before. Traders eased up on geopolitical jitters, refocusing on supply concerns and the strength of the dollar. By 1048 GMT, Brent crude futures inched up 7 cents to $66.37 a barrel. U.S. West Texas Intermediate climbed 13 cents to $62.27. Both benchmarks had earlier slipped to one-week lows—Brent at $65.19, WTI at $61.12.
3 February 2026
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Venezuela oil exports jump, but Exxon Mobil and Chevron still won’t bet big

Venezuela oil exports jump, but Exxon Mobil and Chevron still won’t bet big

Venezuela’s oil exports jumped to roughly 800,000 barrels per day in January, up from 498,000 bpd in December, according to shipping data. The rise follows the U.S. lifting its blockade, allowing traders to resume crude and fuel shipments. https://www.reuters.com/business/energy/venezuelas-oil-exports-bounce-800000-bpd-january-under-us-control-shipping-data-2026-02-02/
3 February 2026
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Natural gas prices plunge 26% as warmer forecasts hit; UNG tumbles and traders eye U.S. storage data

Natural gas prices plunge 26% as warmer forecasts hit; UNG tumbles and traders eye U.S. storage data

U.S. natural gas prices plunged the most in a single day since 1995 on Monday, after forecasts for mid-February suddenly shifted warmer and supply bounced back quicker than expected. The front-month March Henry Hub contract closed down 25.7%, landing at $3.237 per million British thermal units. Commodity Weather Group slashed its heating degree day forecast by 26.3, signaling less demand for heating as temperatures rise. Output climbed to 111.6 billion cubic feet per day. Eli Rubin of EBW Analytics Group noted the supply rebound was “a far faster recovery than historic freeze-offs”—when ice clogs wells and pipelines. Meanwhile, Kpler reported that trend-following funds have taken an 18% net-short stance, betting prices will keep falling.
2 February 2026
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Oil prices tumble 5% as Trump flags Iran talks, risk premium drains fast

Oil prices tumble 5% as Trump flags Iran talks, risk premium drains fast

Oil prices dropped about 5% on Monday after Donald Trump said Iran was “seriously talking” with the U.S., easing fears of supply disruptions. Brent crude futures tumbled $3.63, or 5.2%, to $65.69 a barrel by 0920 GMT. U.S. West Texas Intermediate crude dipped $3.60, or 5.5%, settling at $61.61. Giovanni Staunovo from UBS cited easing Middle East tensions and fewer disruptions in the U.S. and Kazakhstan. Meanwhile, Priyanka Sachdeva at Phillip Nova noted that renewed dollar strength “reinforced” the selloff as gold and silver prices also slid.
2 February 2026
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Natural gas price spikes again: Henry Hub ends week at $4.35 as cold lingers, LNG demand firms

Natural gas price spikes again: Henry Hub ends week at $4.35 as cold lingers, LNG demand firms

U.S. natural gas prices closed out the week with a strong surge. The March Henry Hub contract jumped 11.1% on Friday, finishing at $4.354 per million British thermal units. Commodity Weather Group pointed to below-normal temperatures forecasted from Feb. 4-8 across parts of the Upper Midwest, Mid-Atlantic, and Northeast. This cold snap helped push natural gas-linked ETFs like UNG and BOIL sharply higher alongside the futures climb.
31 January 2026
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