Heating Oil Near $4.76 Per Gallon as Crude's Five-Month High Resets the Winter Bill

A household that heats with oil is looking at near $4.76 a gallon before this winter even starts. NYMEX heating oil futures traded near $4.76 on October 23, up about 98 percent from $2.40 a year ago, the steepest annual jump of any major consumer energy line. That is not a crude story dressed up as a household one. It is the household gallon itself, and it is the single most consequential cost figure on the cost-of-living desk today.

Key Takeaways Heating oil futures traded near $4.76 a gallon on October 23, up about 98 percent from $2.40 a year earlier, the steepest annual jump of any major consumer energy line. WTI crude traded near $102 on October 23, a five-month high, while Brent held ne…