"Almost two million homes and businesses across the UK which still use heating oil are already facing a major cost increase as a result of the Middle East crisis. Since the outbreak of the conflict, there has been a lot of focus on the price of Brent crude oil marching higher as supply lines are hampered by Iran effectively prohibiting tankers moving through the Strait of Hormuz."
"Homes and businesses either in remote areas or which were built decades ago often have an oil tank on site which pumps into the property directly when required. The oil type used in this setup is typically Kerosene-28 and it is usually simply ordered by phone or online from a local supplier when reserves run low."
Nearly two million UK homes and businesses relying on heating oil face significant cost increases following Middle East conflict disruptions. Supply chain disruptions, including Iran's restrictions on tanker movements through the Strait of Hormuz and Qatar's LNG plant shutdown, have driven energy prices higher. Heating oil prices have more than doubled within a week. The affected properties, typically in remote areas or older buildings, use oil tanks that pump Kerosene-28 directly into the property. Experts advise customers against panic-buying at elevated prices, recommending they wait to observe market movements before purchasing.
Read at www.independent.co.uk
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