04.25.2024
US heating oil, distillate fuel consumption lower than usual in Q1
In the first quarter of 2024, US prices for distillate fuel oil — which includes diesel fuels for vehicles and for home heating — was lower than the...
Daily Charts
Crude oil fell eight percent last week, settling at $37.05 per barrel on Friday. Heating oil futures loosely followed, dropping nearly four percent to $1.13 per gallon. Prices reversed course and made up most of last week’s decline on Monday. Soybean oil followed oil, dropping 3.6 percent last week and rallying 2.8 percent today.
The bean oil/heating oil spread (BOHO) finished last week down 3.5 percent to $1.26 per gallon. There was not a reversal to begin the week for the BOHO as the moves higher in soybean and heating oil futures on Monday, offset one another as to their impact on the spread. Biodiesel RINs gained two percent in value last week with the 2020 RIN closing at 75.5 cents. The 2020 RIN gained another…