Heating oil extended gains in December, trading above $1.4 per gallon and recovering further from a 16-year low of $0.7 reached in April amid rising demand during the winter months and as the number of countries approving COVID-19 vaccine is growing and bringing hopes of fast recovery in oil demand.

Historically, Heating oil reached an all time high of 4.16 in July of 2008. Heating oil - data, forecasts, historical chart - was last updated on December of 2020.

Heating oil is expected to trade at 1.44 USD/GAL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.26 in 12 months time.

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Heating oil


Heating oil
Heating oil, also known as No. 2 fuel oil, accounts for about 25% of the yield of a barrel of crude, the second largest "cut" after gasoline. The heating oil futures contract trades in units of 42,000 gallons (1,000 barrels) and is based on delivery in New York harbor, the principal cash market trading center. The heating oil futures contract is also used to hedge diesel fuel and jet fuel, both of which trade in the cash market at an often stable premium to NYMEX Division New York harbor heating oil futures. The Heating Oil market prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our market prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Energy Price Day Weekly Monthly YTD Date
Crude Oil
USD/Bbl
 49.0700 0.71 1.47% 5.37% 17.56% -19.81% Dec/18
Brent
USD/Bbl
 52.2800 0.78 1.51% 4.62% 18.28% -21.26% Dec/18
Natural gas
USD/MMBtu
2.7090 0.07 2.77% 4.55% 4.51% 26.10% Dec/18
Gasoline
USD/Gal
 1.3962 0.01 0.58% 6.77% 20.10% -18.67% Dec/18
Heating oil
USD/Gal
 1.5087 0.01 0.90% 5.00% 18.73% -25.54% Dec/18
Ethanol
USD/Gal
 1.3200 0.00 0.00% 0.00% -5.04% -5.52% Dec/18
Naphtha
USD/T
 435.64 2.42 0.56% 2.53% 19.07% -18.74% Dec/18
Propane
USD/Gal
 0.64 0.01 2.22% 9.05% 18.23% 45.29% Dec/18
Uranium
USD/Lbs
 30.1000 0.00 0.00% 1.18% 3.97% 21.13% Dec/18

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
 1,881.04 4.83 -0.26% 2.28% 0.73% 23.08% Dec/18
Silver
USD/t.oz
 25.770 0.28 -1.07% 7.77% 6.98% 43.01% Dec/18
Platinum
USD/t.oz
 1,036.20 8.02 -0.77% 2.71% 8.92% 7.60% Dec/18

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
 1,217.7500 18.75 1.56% 5.09% 3.66% 27.24% Dec/18
Wheat
USd/Bu
 607.0000 1.75 -0.29% -0.21% 2.58% 8.13% Dec/18
Cheese
USD/Lbs
 1.6270 0.00 -0.12% -1.21% -32.99% -9.81% Dec/18
Palm Oil
MYR/T
 2,639.00 13.00 0.50% 0.73% -8.05% -4.59% Dec/18
Milk
USD/CWT
 15.64 0.01 0.06% -0.95% -32.35% -8.32% Dec/18
Coffee
USd/Lbs
 123.70 1.35 -1.08% 4.12% 2.53% -2.68% Dec/18
Wool
AUD/100Kg
 1,171.00 0.00 0.00% -2.25% 1.04% -24.84% Dec/18
Lumber
USD/1000 board feet
 850.30 10.20 1.21% 6.96% 37.83% 109.07% Dec/18
Cotton
USd/Lbs
 77.04 0.15 -0.19% 4.00% 11.14% 11.22% Dec/18
Canola
CAD/T
 624.00 8.80 1.43% 5.12% 9.03% 32.34% Dec/18
Rice
USD/cwt
 12.5550 0.03 -0.24% 0.68% 0.92% -2.94% Dec/18
Tea
USD/Kgs
 2.95 0.00 0.00% 1.72% 8.86% 18.00% Dec/18
Rubber
JPY/Kg
 274.00 4.00 1.48% 17.60% 11.79% 55.51% Dec/18
Oat
USd/Bu
 337.7500 1.00 0.30% -2.03% 13.62% 13.34% Dec/18
Sugar
USd/Lbs
 14.43 0.25 -1.70% 0.00% -5.56% 9.90% Dec/18
Cocoa
USD/T
2,506.00 35.00 -1.38% -8.77% -14.03% -1.03% Dec/18
Orange Juice
USd/Lbs
 117.80 2.15 1.86% 1.51% -7.90% 24.20% Dec/18
Corn
USd/BU
 437.0000 4.75 1.10% 3.01% 3.43% 12.85% Dec/18

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
 17.11 0.08 -0.47% -0.81% -10.14% 18.98% Dec/18
Poultry
BRL/Kgs
 5.71 0.00 0.00% -4.67% -12.42% 6.73% Dec/18
Feeder Cattle
USd/Lbs
 140.4500 0.53 -0.37% 0.52% 2.69% -2.90% Dec/18
Lean Hogs
USd/Lbs
 65.8000 0.38 0.57% 1.74% 3.30% -8.04% Dec/18
Live Cattle
USd/Lbs
 110.4000 1.05 0.96% 1.52% 1.99% -12.08% Dec/18

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
 3.6285 0.03 0.79% 2.86% 12.79% 28.80% Dec/18
Lithium
CNY/T
 39,000.00 0.00 0.00% 0.00% 0.00% -21.21% Dec/18
Steel
CNY/T
 4,263.00 33.00 0.78% 3.45% 4.13% 13.92% Dec/17
Bitumen
CNY/T
 2,562.00 26.00 -1.00% 5.09% 13.66% -16.66% Dec/18
Coal
USD/T
 83.25 0.50 0.60% 2.59% 29.57% 19.47% Dec/18
Palladium
USD/t.oz
 2,360.76 20.34 0.87% 1.82% 1.53% 21.72% Dec/18
Cobalt
USD/T
 32,200.00 0.00 0.00% 0.63% -0.60% -1.68% Dec/18
Lead
USD/T
 2,031.25 10.75 -0.53% -1.20% 3.49% 6.15% Dec/18
Aluminum
USD/T
 2,057.00 10.00 -0.48% 1.28% 3.48% 13.99% Dec/18
Tin
USD/T
 20,060.00 162.50 0.82% 2.75% 7.10% 16.70% Dec/18
Zinc
USD/T
 2,860.50 9.00 0.32% 2.67% 3.86% 23.83% Dec/18
Nickel
USD/T
 17,428.00 32.00 -0.18% 1.14% 10.35% 24.93% Dec/18
Molybdenum
USD/Kg
 23.50 0.00 0.00% 0.00% 0.00% 6.58% Dec/18
Iron Ore
USD/T
 161.50 6.00 3.86% 3.19% 27.17% 75.54% Dec/18
Soda Ash
CNY/T
 1,400.00 0.00 0.00% -4.50% -22.94% -10.64% Dec/18
Neodymium
CNY/T
 595,000.00 0.00 0.00% -2.46% 18.41% 64.36% Dec/18
Iron Ore 62% fe
USD/T
 152.4900 1.12 0.74% 0.31% 24.14% 64.71% Dec/18
Rhodium
USD/t oz.
 16,500.00 0.00 0.00% 1.23% 6.80% 172.73% Dec/18
Manganese
CNY/T
 28.00 0.00 0.00% 0.00% 0.00% -11.11% Dec/18

Index Price Day Weekly Monthly YTD Date
Baltic Dry
Index Points
 1,325.00 24.00 1.84% 9.41% 16.84% 35.76% Dec/18
CRB Index
Index Points
 176.86 1.02 0.58% 3.23% 7.37% -10.06% Dec/18
LME Index
Index Points
 3,502.30 0.00 0.00% 1.73% 8.38% 23.18% Dec/18
S&P GSCI
Index Points
 1,969.94 16.93 0.87% 3.63% 9.99% -24.00% Dec/18