Compare Heating Oil Prices & Save

Brent crude is trading near 72 dollars a barrel this morning, down about 1% on the day as traders wait on the latest round of US-Iran talks in Doha. The benchmark has held in the low-70s through June, and attention has now shifted firmly to an expected supply surplus later in the year as OPEC+ keeps nudging output higher and global production ramps up into 2027.

Our Fueltool price tracker has the average UK supplier price down to roughly 77ppl on a 1,000-litre order, a fresh low for the year and another small step lower from around 78ppl a week ago. That keeps the average well below the early-April high near 125ppl, with the softer wholesale costs continuing to feed through into the prices suppliers are quoting. A steady pound has helped too, holding down the cost of imported product.

Winter demand is long behind us and the autumn restock is still months away, leaving the market at its calmest point of the year. Crude is still moving quickly day to day, so the near-term path depends mainly on whether the Doha talks ease the remaining risk premium and on how the wider supply outlook and sterling develop from here.