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.