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U.S. heating oil futures rise on large distillate draw
January 29, 2014 / 3:56 PM / 4 years ago

U.S. heating oil futures rise on large distillate draw

NEW YORK, Jan 29 (Reuters) - U.S. heating oil futures
extended gains on Wednesday after U.S. government data showed a
much larger-than-expected draw in distillate stocks, which
include heating fuel and diesel.
    Distillate stocks fell by 4.6 million barrels compared with
a forecast of a 2.2 million barrel draw in a Reuters poll, data
from the U.S. Energy Information Administration showed. 
    U.S. ultra low-sulfur diesel (ULSD) futures, more commonly
known as heating oil, rose nearly 2 cents to $3.1793 per
gallon after the data were released.
    The February contract, which expires on Friday, rose to a
5-month high of $3.1835 on Monday. 

 (Reporting By Jeanine Prezioso)

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