22.06.202602:02:05UTC+00Heating Oil Prices Decline

US heating oil prices slipped toward $3.10 per gallon in June, hovering just above the three-month low hit on June 18, as traders reacted to rapidly shifting signals around US–Iran peace negotiations. According to a statement from mediators Qatar and Pakistan in Switzerland, Washington and Tehran agreed on a 60-day roadmap toward a final agreement, with technical discussions scheduled to continue through the rest of the week. However, skepticism over the deal’s durability persisted after local media reported that Iran had paused talks following renewed threats from President Donald Trump to launch strikes if Hezbollah continued its attacks on Israel. These fluid developments have kept markets focused on how quickly crude shipments through the Strait of Hormuz—significantly constrained since March—might return to normal. At the same time, US distillate inventories, which include diesel and heating oil, rose by 0.951 million barrels in mid-June.