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Almost 2 million homes and businesses across the UK which still use heating oil are already facing a major cost increase as a result of the Middle East crisis.
Since the outbreak of the conflict, there has been a continued focus on Brent crude oil’s price marching higher as supply lines are hampered by Iran effectively prohibiting tankers from moving through the Strait of Hormuz. Qatar’s liquified natural gas (LNG) plant shutting down after being struck means the cost of gas has shot up, too.
But heating oil stands apart as another key energy source for millions across Britain – with prices having more than doubled in only a week.
Still, experts are warning customers not to pan
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