Heating Oil Tumbles to Fresh Lows on Inventory Build

Heating oil prices sliced through support pushing to a fresh low despite a draw in crude oil which was larger than expected.  The continued buildup of distillate stocks while demand for diesel and heating oil wane are creating unwanted headwinds for heating oil.

On Wednesday the Department of Energy released its weekly inventory estimate.  According to the EIA U.S. commercial crude oil inventories…