Heating Oil Consolidates Despite Robust Crude Inventory Build

Heating oil prices were lower in early trade on Wednesday following a larger than expected build in crude oil inventories reported by the Department of Energy. The focus for traders has been on how the Iranian sanction will affect supply and less on the glut of oil that is building up on the US.  Imports surged higher and the monthly average is up 10% year over year. Refinery operations are…