Heating Oil on the rise

The United States has announced new sanctions on two major Russian oil producers. Together, these companies account for almost half of Russia’s total oil exports, so the move has had an immediate impact on global energy markets, with crude prices rising by around 5%.

​

What Does This Mean for heating oil Customers?

Although the UK no longer imports significant amounts of Russian oil, global prices directly influence the cost of refined products such as road fuel and home heating oil. ​In the short term, this means heating oil prices have increased, reflecting higher global market costs. ​

​

At Ukay Energy, we’re closely monitoring developments to ensure we continue offering competitive prices and dependable delivery, so our customers can stay warm, fuelled, and confident despite global uncertainty.