Heating Oil decreased 0.05 USD/GAL or 2.13% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil - values, historical data, forecasts and news - updated on March of 2025.

This statistic shows the average annual futures contract 1 price for New York Harbor No.2 heating oil between 1990 and 2019. In 2019, the futures contract 1 price for this fuel came to around 1.94 U.S. dollars per gallon.

Graph and download economic data for No. 2 Heating Oil Prices: New York Harbor (WHOILNYH) from 1986-06-06 to 2025-02-28 about new york harbor, heating, New York, oil, commodities, and USA.

Heating oil price in the United States has peaked in winter 2022/23 at 4.31 U.S. dollars per gallon and has decreased ever since. Heating oil is a liquid petroleum product that is, among other things, used in residential buildings as a fuel oil in furnaces or boilers. Chemically, most heating oils are similar to motor diesel fuels and are often sold interchangeably. Forecast heating price in the U.S. The average price of heating oil in the United States in the winter of 2024/25 is expected to reach 3.44 U.S. dollars per gallon. Energy prices are projected to see a decrease this winter, because of increased production of heating fuels. The number of heating degree days, which are the days in which the average temperature is below 18 degrees Celsius (65 degrees Fahrenheit), also helps quantify the energy demand required to heat a building. What determines heating oil price? Generally, heating oil prices are collected during the heating season between October and March. In the U.S., the greatest determining factor for heating oil prices is the WTI crude oil price. Consumers can lower heating oil bills by considering when they purchase, reducing consumption, and through government assistance programs.

Crude Oil decreased 2.12 USD/BBL or 2.95% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on March of 2025.

On March 24, 2025, the Brent crude oil price stood at 73.05 U.S. dollars per barrel, compared to 69.11 U.S. dollars for WTI oil and 75.11 U.S. dollars for the OPEC basket. These were slight increases compared to the previous weeks, which had seen some of the lowest prices in four years.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (whereby a contract is agreed upon, while the product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

Explore the dynamics of the heating oil market, its seasonal demand, and the role of NYMEX futures in risk management. Learn about hedging strategies and the impact of global factors on heating oil prices.

Brent decreased 0.64 USD/BBL or 0.85% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on March of 2025.

China Settlement Price: Fuel Oil Forward: 180CST: No.2: H18W: SPEX: Second Month data was reported at 3,426.000 RMB/Ton in 17 Apr 2009. This records a decrease from the previous number of 3,430.000 RMB/Ton for 16 Apr 2009. China Settlement Price: Fuel Oil Forward: 180CST: No.2: H18W: SPEX: Second Month data is updated daily, averaging 3,486.500 RMB/Ton from Aug 2006 (Median) to 17 Apr 2009, with 648 observations. The data reached an all-time high of 5,528.000 RMB/Ton in 15 Jul 2008 and a record low of 2,153.000 RMB/Ton in 05 Dec 2008. China Settlement Price: Fuel Oil Forward: 180CST: No.2: H18W: SPEX: Second Month data remains active status in CEIC and is reported by Shanghai Petroleum Exchange. The data is categorized under High Frequency Database’s Commodity Prices and Futures – Table CN.ZB: Shanghai Petroleum Exchange: Price: Daily.

In 2023/24 oil prices in the United Kingdom are expected to reach 66.17 British pounds per barrel, before falling to 61.89 pounds per barrel in 2024/25, and 52.96 pounds per barrel by 2027/28.

China Settlement Price: Shanghai Future Exchange: Fuel Oil: 3rd Month data was reported at 3,288.000 RMB/Ton in Feb 2025. This records a decrease from the previous number of 3,474.000 RMB/Ton for Jan 2025. China Settlement Price: Shanghai Future Exchange: Fuel Oil: 3rd Month data is updated monthly, averaging 3,320.000 RMB/Ton from Aug 2004 (Median) to Feb 2025, with 247 observations. The data reached an all-time high of 5,543.000 RMB/Ton in Jan 2012 and a record low of 1,307.000 RMB/Ton in Apr 2020. China Settlement Price: Shanghai Future Exchange: Fuel Oil: 3rd Month data remains active status in CEIC and is reported by Shanghai Futures Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Shanghai Futures Exchange: Commodity Futures: Settlement Price.

As of February 2025, the average annual price of Brent crude oil stood at 77.36 U.S. dollars per barrel. This is some three U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility; such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and a low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

China Settlement Price: Fuel Oil Forward: 180CST: No.2: Y18W: SPEX: First Month data was reported at 3,150.000 RMB/Ton in 07 Mar 2007. This stayed constant from the previous number of 3,150.000 RMB/Ton for 06 Mar 2007. China Settlement Price: Fuel Oil Forward: 180CST: No.2: Y18W: SPEX: First Month data is updated daily, averaging 3,390.000 RMB/Ton from Aug 2006 (Median) to 07 Mar 2007, with 131 observations. The data reached an all-time high of 3,480.000 RMB/Ton in 29 Dec 2006 and a record low of 3,125.000 RMB/Ton in 28 Feb 2007. China Settlement Price: Fuel Oil Forward: 180CST: No.2: Y18W: SPEX: First Month data remains active status in CEIC and is reported by Shanghai Petroleum Exchange. The data is categorized under High Frequency Database’s Commodity Prices and Futures – Table CN.ZB: Shanghai Petroleum Exchange: Price: Daily.

The datasets for the Role of Financial Investors on Commodity Futures Risk Premium are weekly datasets for the period from 1995 to 2015 for three commodities in the energy market: crude oil (WTI), heating oil, and natural gas. These datasets contain futures prices for different maturities, open interest positions for each commodity (long and short open interest positions), and S&P 500 composite index. The selected commodities are traded on the New York Mercantile Exchange (NYMEX). The data comes from the Thomson Reuters Datastream and from the Commodity Futures Trading Commission (CFTC).

China Settlement Price: Shanghai International Energy Exchange: Low Sulfur Fuel Oil: 5th Month data was reported at 3,591.000 RMB/Ton in 25 Mar 2025. This records an increase from the previous number of 3,571.000 RMB/Ton for 24 Mar 2025. China Settlement Price: Shanghai International Energy Exchange: Low Sulfur Fuel Oil: 5th Month data is updated daily, averaging 3,921.000 RMB/Ton from Jun 2020 (Median) to 25 Mar 2025, with 1153 observations. The data reached an all-time high of 5,918.000 RMB/Ton in 09 Jun 2022 and a record low of 2,190.000 RMB/Ton in 02 Nov 2020. China Settlement Price: Shanghai International Energy Exchange: Low Sulfur Fuel Oil: 5th Month data remains active status in CEIC and is reported by Shanghai International Energy Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Shanghai International Energy Exchange: Commodity Futures: Settlement Price: Daily.

China Settlement Price: Fuel Oil Forward: 380CST: L38W: SPEX: Third Month data was reported at 2,930.000 RMB/Ton in 07 Mar 2007. This stayed constant from the previous number of 2,930.000 RMB/Ton for 06 Mar 2007. China Settlement Price: Fuel Oil Forward: 380CST: L38W: SPEX: Third Month data is updated daily, averaging 3,060.000 RMB/Ton from Aug 2006 (Median) to 07 Mar 2007, with 131 observations. The data reached an all-time high of 3,445.000 RMB/Ton in 13 Oct 2006 and a record low of 2,930.000 RMB/Ton in 07 Mar 2007. China Settlement Price: Fuel Oil Forward: 380CST: L38W: SPEX: Third Month data remains active status in CEIC and is reported by Shanghai Petroleum Exchange. The data is categorized under High Frequency Database’s Commodity Prices and Futures – Table CN.ZB: Shanghai Petroleum Exchange: Price: Daily.

Natural gas increased 0.21 USD/MMBtu or 5.84% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on March of 2025.

Gasoline increased 0.22 USD/GAL or 10.89% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline - values, historical data, forecasts and news - updated on March of 2025.

NYMEX is a commodity futures exchange operating as part of the CME Group and primarily trades energy and metal contracts. NYMEX is known for trading futures contracts for crude oil, natural gas, heating oil, gasoline, and other energy products, as well as contracts for metals such as gold, silver, copper, and aluminum.

The Average Residential Retail Propane Prices dataset provides New York residents and businesses with objective information on average residential retail propane pricing in New York State and by region beginning September 8, 1997. Pricing data is obtained via surveys conducted by New York State Energy Research and Development Authority (NYSERDA) staff on a weekly basis during heating season (September to March) and bi-weekly during the rest of the year. All prices are listed in dollars per gallon.

The Average Home Heating Oil Prices dataset, Average Residential Retail Kerosene Prices dataset, and Average Residential Retail Propane Prices dataset are collectively referred to as the Heating Fuel Prices dataset.

For current and historical residential retail price data, regional comparisons, and fuel type comparisons, please visit the Propane Prices Dashboard: https://www.nyserda.ny.gov/researchers-and-policymakers/energy-prices/propane/average-propane-prices

The New York State Energy Research and Development Authority (NYSERDA) offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. To learn more about NYSERDA’s programs, visit nyserda.ny.gov or follow us on X, Facebook, YouTube, or Instagram.