Heating Oil Moves Higher on Solid Inventory Draws

Heating oil prices whipsawed on Wednesday in the wake of the Department of Energy’s release of its estimate of inventories.  Prices had moved higher into the number released at 10:30am ET as the American Petroleum Institute estimate had shown a draw of crude oil stocks.

Although petroleum stocks remain near all-time highs, there are some clues that the trajectory of stock levels is likely to…