Heat Edges Lower on Declining Distillate Demand

Heating oil prices edged lower on Wednesday following the release by the Department of Energy on their estimate of weekly inventories. Recent builds in heat have pushed it back into the middle of the 5-year range. OPEC oil ministers expressed optimism on Wednesday about their strategy of pumping more crude oil and fighting for market share. The world oil market is closely watching OPEC’s activities in Vienna this week,…