Heating oil price jumps before U.S. open as cold risk tightens diesel market
NYMEX February heating oil futures rose 1.4% to $2.2392 a gallon Friday as U.S. distillate inventories fell to about 4% below the five-year average. Government and private forecasters expect colder weather in the Northeast later in January. Refineries ran at 95.3% capacity last week. Crude stocks increased by 3.4 million barrels, while gasoline inventories jumped by 9 million.