Heating Oil Report ► Heating oil is mostly used to heat building furnaces and as an industrial fuel for power generation. Heating Oil Fundamental Commodity Analysis (short term investment): Heating oil is rated a Buy. Heating oil demanders have a very high potential to increase in value, while heating oil suppliers have a high potential to increase in value. The net difference means that heating oil may increase in price over the short term. Heating Oil Value Investor Survey (long term investment): Heating oil’s long term growth potential is moderately favorable due to high scores on the SWOT analysis.