24.02.2026
Market commentary on heating oil 24.02.2026
The US warship, more than 300 metres long and bearing the illustrious name "USS Gerald R. Ford ", is positioned off the island of Crete. The world's largest aircraft carrier is part of the formidable armada that the US has assembled in the eastern Mediterranean. Despite this impressive military show of force, according to Omani Foreign Minister Badr al-Busaidi, the next round of negotiations between Iran and the US is scheduled to take place in Geneva this coming Thursday.
In this very tense political situation, the oil market has risen sharply again. Uncertainty is always poison for attractive prices, and at the moment pretty much everything is unclear. Strictly speaking, we don't even know what goals the US president is pursuing in the conflict with the mullah regime. Is this really just about Iran's nuclear infrastructure, which they already tried to destroy months ago? That would please the Israelis in particular, who feel primarily threatened by it. Or is it about a political upheaval in Tehran? Of course, there are also warning voices for this scenario; there is great respect for the idea of destabilising another country, and perhaps an entire region, after Iraq and Libya.
The massive onset of winter, which is causing the north-east of the US to groan, is also supporting prices these days. Violent storms with huge amounts of snow have left thousands of households without electricity and brought public life to a virtual standstill.