Heating oil prices.
Simply compared.Heating oil prices.
Simply compared.

Attacks on ships around the Strait of Hormuz, the sea lane that normally carries about a fifth of the world's oil, reached their highest weekly count since the Iran war began in February. Britain's maritime security centre logged at least 10 in the seven days to Saturday. Iran's Revolutionary Guard also says two supertankers hit mines there on Friday and Saturday, though neither ship has been named or confirmed. Crude oil rose to about $110 a barrel on Friday, its highest since May, which keeps pressure on heating oil. On Friday night President Trump put a new package of US sanctions and tariffs on Russia on hold, to help along his deal for Russian diesel, and crude eased about 2% on Monday morning. Diesel comes from the same part of the refinery as heating oil, but no Russian diesel from the deal had been seen reaching the market by Friday, and Ukraine has kept hitting Russian refineries, including the big one at Ryazan.

Your next fill. At Fueltool's UK average on Monday 19 October, a 1,000-litre fill costs about £1,200 including VAT. That is about £10 less than at our last brief on Thursday and roughly £20 less than a week ago on the same basis, so heating oil has slipped a little even as crude climbed.

What to watch. First, whether any of Russia's promised diesel actually ships now the US has eased off, and whether Ukraine keeps up its strikes on Russian refineries. Second, the attacks around Hormuz, and Iran's offer to reopen the strait within six days if the US accepts its terms, which Washington has not done because it wants Iran's nuclear programme dealt with first. Third, whether countries deliver the emergency diesel the International Energy Agency asked them to hurry last week.