US heating oil crack spread reportedly surges to $117 a barrel
GlobalMktObserv says the gap between US heating oil and crude prices reached its highest level in Bloomberg data going back to 2009. It links the squeeze to supply disruptions in the Persian Gulf and Russia.
TLDR
GlobalMktObserv reported on September 16, 2026, that US heating oil futures, a diesel benchmark, rose 6.1% the previous day to a record settlement, while European gasoil futures rose 6.2% to a record high. It put the US heating oil crack spread—the difference between refined fuel and crude prices—at $117 a barrel, the highest in Bloomberg data going back to 2009. The account linked the pressure to supply disruptions in the Persian Gulf and Russia. It also said Russia was considering extending its diesel export ban through October, while the US was discussing a potential diesel export ban.
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