U.S. HEATING OIL HITS $5+ — TIGHT OIL SUPPLY BLOWS PRICES UP U.S. residential heating oil prices have climbed above $5 a gallon — a level not seen since late 2022 — as the ongoing conflict involving Iran disrupts global crude and diesel flows through key routes like the Strait of Hormuz. This squeeze on supply has pushed energy markets higher and fed through into heating fuel costs.(*Walter Bloomberg)