The global wholesale price of oil rose by about 6% on Monday.
That was a relatively modest increase given the gravity of the situation unfolding in the Middle East.
It took the price of a barrel of Brent Crude to just under $80, far below the peaks of more than $100 seen after Russia’s invasion of Ukraine.
However some people have told BBC NI they have seen the price of home heating oil jump by more than 30% since the weekend.
The reasons for that much larger increase are unclear and are likely to remain so given that heating oil companies do not have to explain themselves to a regulator.
As ever, the advice for consumers is to shop around.
