US heating oil futures climbed back above $4.80 per gallon, partially reversing the prior session’s losses, after the White House denied reports that it was preparing a 90‑day ban on diesel exports. Energy Secretary Chris Wright said the administration is instead working with refiners on voluntary steps to boost domestic diesel supplies that would not reduce refining throughput, though he offered no specifics and emphasized that no final decisions have been made.
At the same time, EIA data showed US distillate inventories declined by 400,000 barrels in the week ended September 18, while production slipped to an average of 5.2 million barrels per day. Stockpiles now stand about 12% below their five‑year average, underscoring the tightness in supply. Heating oil prices have surged to record highs this month as crude supply disruptions in the Middle East and strikes on Russian refineries have further constrained global fuel availability.
