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Hydrostatic pressure is water seeping through the walls from outside. Paint does not hold up to it unless it is specifically designed to waterproof against that type of moisture. Definitely check the paint for warnings about being flammable, as well as any cleaners or prep materials you may use. If they are flammable, the furnace must be turned off including any pilot light until the product is fully dried. Latex paint is not usually flammable.

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Q: Can I paint my cement walls in basement being located around my oil furnace if the paint can says don't paint around hydrostatic pressure?
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