Heating Oil News

Brent crude has been choppy this week. Prices dipped towards 72 dollars a barrel early on after OPEC+ agreed on 5 July to accelerate the return of held-back supply, adding another 188,000 barrels a day from August in its fifth straight monthly increase. That easing was then interrupted mid-week as Middle East tensions, including fresh disruption around the Strait of Hormuz, pushed Brent back up towards 78 dollars before it settled in the mid-70s.

UK kerosene has firmed slightly on the back of that volatility. Our Fueltool price tracker puts the average supplier price at around 80 pence per litre on a 1,000 litre order today, up about 1.8 per cent from roughly 77.5 pence ten days ago. Wholesale costs and the pound against the dollar remain the main drivers behind the figure at the pump.

The near-term picture is finely balanced. Rising OPEC+ output points towards more crude reaching the market into the autumn, while any further flare-up around Hormuz could add upward pressure just as quickly. For now the tracker sits close to 80 pence per litre after a modest rise over the past fortnight.