A difficult winter is on the horizon, given the ongoing situation in the Middle East, with markets remaining particularly vulnerable to every new development and investors assessing the potential impact that geopolitical tensions may have on global oil supply.
Heating oil prices set to surge
Thousands of households will be forced to dig deep into their pockets to cope with soaring heating oil prices, which are expected to reach levels well beyond what most citizens’ incomes can comfortably absorb.
Heating oil goes on sale on October 15, and no one knows whether market conditions will improve by then. Brent crude is currently trading at around $94 per barrel — up from below $80 just 15 days ago.
It is worth recalling that heating oil prices skyrocketed in 2026 following the outbreak of conflict in the Middle East:
- In January, prices stood at €1.07 per litre
- By April, they had surged to €1.85 per litre
Geopolitical uncertainty
Investors are closely monitoring conflicting reports regarding US-Iran relations, as well as developments surrounding the Strait of Hormuz, with geopolitical uncertainty continuing to weigh on markets. The coming weeks are expected to be critical in determining the direction of prices, as consumers anxiously await further developments and their impact on household budgets.
