Heating Oil Stockpiles Surge, but Prices are Oversold

Heating oil prices edged higher in early trade following the larger than expected draw in crude oil inventories.  This came on the back of Tuesday report from the API which also showed a larger than expected crude draw.  Prices in crude spiked to 39 per barrel, but started to come off as traders analyzed the large build in heating oil.

The weather has been warmer than…