08.09.2026
Market commentary on heating oil 08.09.2026
The conflict between Iran and the U.S. has now been going on for more than six months, and the stalemate in the Middle East continues .
After a somewhat calmer lull in August, the fighting has flared up again in recent days. After the U.S. bombed missile sites on the island of Larak, a Persian attack on a U.S. base in Jordan promptly followed as retaliation. So far, so bad. The fact is that the overall logistical situation remains extremely unclear. How many ships and how much cargo the various parties are moving through the Strait of Hormuz, and how quickly the Gulf states are making progress in building their alternative transport routes—the information on these matters is highly inconsistent.
Domestic heating oil prices have now risen again to over 140 francs per 100 liters; the last time prices reached this level was last April. As long as no progress is in sight on the diplomatic front, we likely cannot expect significantly lower prices—especially since we are on the verge of the heating season. Those running low on heating oil face the decision of whether to fill up their tank or order a partial shipment. If the situation stabilizes within a reasonable timeframe and prices drop significantly, such a partial order would be worthwhile. However, if prices remain high, it won’t be worth it, since separate delivery charges apply to each shipment. Late-summer weather is still in the forecast, but fall is coming soon. So it’s not just heating oil that’s expensive—good advice is too!