Heating Oil Rallies Following Surprise Inventory Draw

Heating oil prices moved higher on Wednesday following a larger than expected draw in petroleum inventories that gave a boost to distillates.  Prices are poised to test resistance near a downward sloping trend line at 1.40.  A drop in imports and a continued decline in U.S. production, were the catalysts for the drop in inventories.  Product demand also remains robust, as even distillates demand…