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Heating Oil

All articles tagged with #heating oil

UK heating-oil prepayments hit by war-driven price swings and cancellations
business27 days ago

UK heating-oil prepayments hit by war-driven price swings and cancellations

UK heating-oil customers report prepaid orders being canceled after the Iran–Israel conflict began, with some suppliers trying to double-charge; while the industry association notes rapid price swings and says many distributors are honouring orders, politicians call for action to curb profiteering and the government vows intervention if needed. Some customers have seen orders eventually honoured, highlighting vulnerabilities amid volatile prices and no heating-oil price cap.

"Warning: Winter Heating Costs Set to Soar as US Oil Stockpiles Plummet"
energy2 years ago

"Warning: Winter Heating Costs Set to Soar as US Oil Stockpiles Plummet"

Americans may face higher heating bills this winter due to low stockpiles of distillate fuels in the US. Distillate inventories, including diesel and heating oil, are currently about 15% below the five-year average, leaving little room for error in the system. The tight supplies are a result of OPEC+ crude supply cuts and increased demand from Europe. Refiners have struggled to build stocks due to limited supplies of distillate-rich crude oil grades. Additionally, US exports have depleted stockpiles, and lackluster US demand in the first half of the year has failed to boost inventories. With the potential for a cold winter, analysts warn of significant price shocks.