US heating oil futures hovered around $4.30 per gallon, pausing their record-setting rally as traders assessed new signals from Washington and Jerusalem that tempered fears of further disruptions to Middle Eastern energy infrastructure. President Donald Trump stated that the United States has no plans to deploy ground troops, while Israeli Prime Minister Benjamin Netanyahu indicated that Israel would refrain from additional strikes on Iranian energy facilities. In parallel, Treasury Secretary Scott Bessent said Washington is considering easing sanctions on Iranian oil.
These comments followed the largest wave of attacks on energy assets since the onset of the conflict, including significant damage to Qatar’s largest LNG facility. Even so, heating oil prices remained more than 8% higher for the week and over 60% higher for the month, underpinned by tightening supply linked to the effective closure of the Strait of Hormuz and export restrictions by major Asian refiners.
