Heating Oil Declines on Larger than Expected Inventory Build

Heating Oil prices were on the defensive on Wednesday following a larger than expected build in crude and heating oil inventories.  It appears that imports were the culprit, increasing by nearly 5%, which generated a build when many analysts expected a draw.

According to the Department of Energy, U.S. crude oil imports averaged 7.9 million barrels per day last week, up by 566,000 barrels per…