Compare Heating Oil Prices & Save

Brent crude is trading at around $73 a barrel this Tuesday, close to its lowest level in more than four months. OPEC+ has agreed another output increase of 188,000 barrels per day from August, and tanker traffic through the Strait of Hormuz continues to recover following the US-Iran interim deal, keeping global supply on the rise.

Here in the UK, our Fueltool price tracker puts the average kerosene price at roughly 80 pence per litre, up from around 78ppl at the end of June. That is a modest rise of about 2ppl over the past ten days, even though crude itself has been softening.

The near-term direction now rests on how quickly the extra OPEC+ barrels actually reach the market and how fully Hormuz shipments normalise. Saudi Aramco has already cut its official selling prices sharply for August, a signal that producers expect softer conditions through the rest of the summer.