Larger than expected distillate build sends HO lower

Heating oil prices dropped nearly 2.5% on Wednesday following a mixed inventory report that saw a larger than expected build in products such as distillate and gasoline that was offset by a substantial draw in crude oil inventories.  Refineries continued to operate at a robust level, producing more product than the previous week, while imports declined nearly 5% year over year.  Increasing U.S. production…