Heating oil Hits 5-month High on Strong Inventory Draw

Heating oil prices rallied to fresh five-month highs of $2.08, with the move helped by API’s inventory report on Tuesday, which revealed a 1.5 million barrel draw in crude stocks. EIA data was also strong showing a larger draw than expected.  The dollar edged lower helping crude oil prices as weaker than expected payroll data reduced the demand for the greenback.

U.S. commercial crude oil inventories…