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

What changed. America and Iran have stepped up attacks on oil tankers this week, further disrupting shipments through the Strait of Hormuz, the sea route out of the Persian Gulf. That pushed Brent crude above $105 a barrel on Thursday, adding to the cost of making heating oil. The attacks are also making it harder for fuel already produced in the region to reach buyers.

Your next fill. At Fueltool's UK average on Thursday 10 September, a 1,000-litre fill costs about £1,150 including VAT. That is roughly £120 more than a week ago on the same basis. The rise has taken the cost of a fill above the level in Monday's brief, when prices had only just stopped easing.

The background. The summer's shortage of refined fuel has not gone away. Fuel trader Vitol warned on Tuesday that damaged refineries in Russia and the Middle East are leaving too little diesel available, with little spare capacity elsewhere to replace it. This matters to households because heating oil is kerosene, like jet fuel, and competes for the same refinery output. Shipping disruption is now adding pressure to that existing shortage.

What to watch. Two developments matter: tankers resuming regular crossings through Hormuz, and Russia relaxing its diesel export ban. The US Energy Information Administration said on Wednesday that it expects American diesel and heating oil stocks to stay unusually low through the winter. It also warned that autumn refinery maintenance reduces production just as farming and heating demand increase, leaving less spare fuel to absorb further disruption.