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04.08.202612:16:29UTC+00US Heating Oil Falls to Over 3-Week Low

US heating oil futures declined toward $3.74 per gallon, the lowest level in more than three weeks, as easing geopolitical tensions in the Middle East reduced concerns about potential supply disruptions. Qatar reported that a draft proposal aimed at reviving negotiations between the US and Iran was being circulated, though officials emphasized that no agreement has yet been reached. These diplomatic moves follow President Donald Trump’s decision to delay planned military strikes against Iran to allow more time for talks. The prospect of renewed diplomacy pressured crude oil prices and helped calm fears of disruptions to global energy flows. Earlier gains in heating oil had been supported by tight diesel supplies stemming from Middle East tensions and interruptions to Russian exports. Despite the recent pullback, refining margins remain elevated, with robust international demand continuing to underpin US distillate production and exports.

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