Heating Oil rose to 2.35 USD/Gal on December 2, 2025, up 0.21% from the previous day. Over the past month, Heating Oil's price has fallen 2.25%, but it is still 6.31% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil - values, historical data, forecasts and news - updated on December of 2025.

As of the third quarter of 2025, oil prices in the United Kingdom stood at 68.1 dollars per barrel, with prices expected to fall to 65 dollars a barrel in the fourth quarter of the year.

Average price of heating oil in Great Britain presented a trend of growth, despite some oscillation. Between 2000 and 2020, figures more than doubled, with an increase of ***** euros per thousand liters and peaked at ***** euros per thousand liters in 2012. By 2020, the average price of heating oil in Great Britain amounted to ***** euros per thousand liters.

Crude Oil fell to 59.17 USD/Bbl on December 2, 2025, down 0.25% from the previous day. Over the past month, Crude Oil's price has fallen 3.08%, and is down 15.40% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on December of 2025.

Brent fell to 63.05 USD/Bbl on December 2, 2025, down 0.19% from the previous day. Over the past month, Brent's price has fallen 2.84%, and is down 14.36% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on December of 2025.

On October 27, 2025, the Brent crude oil price stood at 65.14 U.S. dollars per barrel, compared to 61.31 U.S. dollars for WTI oil and 67.54 U.S. dollars for the OPEC basket. Oil prices rose slightly that week.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for global oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (where a contract is agreed upon while product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

Petroleum refining companies in the UK produce a wide variety of products. Fuels for transport and heating are the most common, with petroleum products for transport consistently accounting for almost three-quarters of product demand, according to DESNZ. Industry revenue is expected to swell at a compound annual rate of 8.8% over the five years through 2025-26 to £44.8 billion, including a forecast dip of 2.2% in 2025-26, owing to staggering volatility in crude petroleum and fuel prices in recent years.

The COVID-19 pandemic took its toll on the industry. Global border and travel restrictions dented both demand for fuel and fuel prices, weighing on revenue and profitability for refiners. However, this trend was quickly reversed following Russia's invasion of Ukraine in February 2022. This led to the UK and other major economies announcing that they would wean themselves off Russian oil, resulting in a sharp spike in oil prices from 2022 to 2023 and, to a lesser degree, from 2023 to 2024. Strong oil price inflation translated into higher-value sales for refined oil companies, paving the way for a robust recovery. However, with global oil supplies normalising in 2025-26 and demand for diesel and petrol struggling to return to pre-2019 levels, industry revenue is expected to slip in 2025-26. This is largely due to the growing adoption of electric and hybrid vehicles, which is reducing demand from road transport. However, strong growth in the air freight and air passenger industries is supporting demand for jet fuel in 2025-26.

Industry revenue is forecast to climb at a compound annual rate of 0.7% over the five years through 2030-31 to £46.3 billion. Demand for petrol and diesel-fueled vehicles is expected to decline due to government initiatives aimed at reducing emissions, including the expansion of Clean Air Zones and the ban on new petrol and diesel cars by 2030. Demand for pure electric vehicles is likely to continue rising, posing a significant long-term threat to fuel demand.

As of August 2025, the average annual price of Brent crude oil stood at 71.3 U.S. dollars per barrel. This is over nine U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility, such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

As of the fourth quarter of 2024, oil prices in the United Kingdom stood at 74 dollars per barrel, with prices expected to rise to 76.6 dollars a barrel in early 2025, before gradually falling in subsequent quarters.

The size of the UK Bunker Fuel Industry was valued at USD 7860 Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 14.00">> 14.00% during the forecast period. Recent developments include: Investments in LNG bunkering infrastructure and partnerships

, Development and testing of new fuel blends and technologies, Regulatory changes and updates related to bunker fuel specifications and emissions, Merger and acquisition activity in the industry. Key drivers for this market are: 4., Increasing Demand for Petroleum Products Due to the Growth of the Local Economy4.; Government Initiatives to Boost the Production of Crude Oil and Natural Gas. Potential restraints include: 4., Increasing Adoption of Renewable Energy. Notable trends are: Very Low Sulphur Fuel Oil (VLSFO) to Witness Significant Growth.

UK Gas fell to 72.60 GBp/thm on December 2, 2025, down 1.67% from the previous day. Over the past month, UK Gas's price has fallen 11.75%, and is down 40.33% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on December of 2025.

The United Kingdom Heating Equipment Market Report is Segmented by Equipment Type (Boilers, Furnaces, Heat Pumps, and More), End-User Industry (Residential, Commercial, and More), Fuel Type (Natural Gas, Electricity, Oil, and More), Technology (Condensing, Non-Condensing, and More), Installation Type (New Installation, and Replacement/Retrofit), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

United Kingdom (UK) Oil And Fuel Filter Market is expected to grow during 2025-2031

The UK Bunker Fuel Market is segmented by Fuel Type (High Sulfur Fuel Oil (HSFO), Very-Low Sulfur Fuel Oil (VLSFO), Marine Gas Oil (MGO), Liquefied Natural Gas (LNG), and Others), Vessel Type (Containers, Tankers, General Cargo, Bulk Container, and Others).

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Bunker Fuel Market Size 2025-2029

The bunker fuel market size is forecast to increase by USD 33.8 billion, at a CAGR of 4.5% between 2024 and 2029.

The market is driven by several key factors, including the increasing naval expenditure and the growing LNG industry. Naval forces worldwide continue to expand their fleets, necessitating a significant demand for bunker fuel to power their operations. Furthermore, the transition towards cleaner energy sources in the maritime sector is gaining momentum, with the LNG industry experiencing robust growth. However, this market landscape is not without challenges. Fluctuations in oil and gas prices pose a significant threat to market stability, as bunker fuel is derived from these commodities. These price volatilities can impact the profitability of bunker fuel suppliers and consumers alike, necessitating effective risk management strategies. Additionally, the growing demand for LNG is leading to an increase in demand for bunker fuel as LNG carriers require large quantities of fuel for their operations. 
Companies seeking to capitalize on market opportunities must stay abreast of these trends and challenges, adapting their business models and operations accordingly. Navigating the complexities of the market requires a deep understanding of its underlying dynamics and the ability to respond swiftly to market shifts. Fleet management and optimization are crucial for minimizing fuel consumption and maximizing efficiency. The industry is exploring various solutions to reduce emissions, from fuel efficiency improvements to alternative fuels like liquefied natural gas (LNG) and biofuels.

What will be the Size of the Bunker Fuel Market during the forecast period?

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The market continues to evolve, driven by a complex interplay of factors. Liquefied petroleum gas (LPG) is gaining traction as a cleaner alternative to heavy fuel oil (HFO), aligning with International Maritime Organization (IMO) regulations. Ship management companies are increasingly focusing on fuel optimization, incorporating advanced technologies to enhance engine performance and reduce emissions. Bunkering operations and infrastructure are adapting to accommodate various fuel types, including marine gasoil (MGO) and LPG. Freight rates and shipping economics are influenced by fuel costs and the ongoing shift towards cleaner fuels. Fuel delivery methods, from traditional bunkering vessels to new technologies like fuel cell trucks, are evolving to meet changing market demands. IMO regulations, such as Marpol Annex VI and Marpol Annex IV, are driving the maritime industry towards stricter emissions standards.

Fuel quality and handling are critical aspects of ensuring compliance, with fuel testing and optimization playing essential roles. Ship design and hull optimization are also key factors, as new technologies like hybrid propulsion, shaft generators, and carbon capture are gaining traction. Ballast water management and emissions reduction technologies are also becoming increasingly important, as the industry strives for sustainable shipping practices. The market is a dynamic and evolving landscape, with ongoing activities and unfolding patterns shaping its future. From fuel optimization and emissions reduction to the adoption of new technologies and alternative fuels, the market is poised for continuous change.

How is this Bunker Fuel Industry segmented?

The bunker fuel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  MGO
  HSFO
  VLSFO


Application

  Container
  Bulk carrier
  Oil tanker
  General cargo
  Chemical tanker


Distribution Channel

  IOC/NOC
  Large independent distributor
  Small independent distributor


Geography

  North America

    US


  Europe

    France
    Germany
    The Netherlands
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Japan
    Singapore


  Rest of World (ROW)

By Type Insights

The MGO segment is estimated to witness significant growth during the forecast period. Marine gas oil (MGO), a distillate fuel derived from crude oil through refining, is widely used in ships and marine vessels due to its lower sulfur content, ensuring compliance with stricter emissions regulations, particularly in Emission Control Areas (ECAs). MGO's cleaner properties, including lower viscosity and density compared to heavy fuel oils (HFO), facilitate easier handling and combustion. Environmental compliance is a significant factor driving the demand for MGO in the maritime industry. Fuel costs, a crucial component of shipping eco

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District Heating Market Size and Trends

The district heating market size is forecast to increase by USD 49.5 billion at a CAGR of 4.8% between 2023 and 2028. The market is witnessing significant growth due to decarbonization goals and government initiatives to promote sustainable energy solutions. Energy management and smart grids are becoming essential components of district heating systems, enabling efficient energy distribution and demand response. Waste heat recovery is another trend gaining traction, as it offers an opportunity to reduce energy consumption and costs. Waste heat recovery, when combined with smart sensors, can be improved at the central plants. However, technical and economic barriers persist, including high upfront costs and complex retrofitting processes. Space heating applications are a major market for district heating, providing cost-effective and environmentally friendly alternatives to traditional heating methods. Irregularities in the pricing of district heating networks remain a challenge, necessitating regulatory intervention to ensure fair and transparent pricing structures.

Market Overview

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The market is witnessing significant growth due to the increasing adoption of renewable sources and sustainable energy practices. The shift towards sustainable energy is driven by the need to reduce carbon footprints and mitigate climate change. Renewable sources, such as biomass, geothermal, and solar, are gaining popularity in district heating systems. Biomass, derived from organic materials, is a carbon-neutral fuel source that can be used to generate heat. The integration of Internet of Things (IoT) technologies in combined heat and power (CHP) systems within new-generation district heating plants enhances the efficiency of district energy system by enabling smarter management and recycling of waste energies in the power sector. However, the implementation of district heating systems faces regulatory and permitting hurdles. Infrastructure development and the installation of central heat plants, district heat networks, insulated pipes, boilers, and heat pumps require extensive permitting processes and adherence to strict regulations. Despite these challenges, the market is expected to grow significantly in the coming years.

Furthermore, the adoption of decentralized heating systems and the recycling of waste energies are also contributing to the market's growth. Space heating applications, both residential and industrial, are the primary consumers of district heating systems. For instance, high-capacity chillers or boilers can perform more efficiently when placed at centralized locations. These systems provide efficient and cost-effective heating solutions, making them a popular choice for consumers. The use of renewable energy sources, efficient heat production, and the recycling of waste energies are key drivers of growth in the market.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Source

  Fossil fuels
  Renewables
  Others


End-user

  Residential
  Commercial
  Industrial


Geography

  Europe

    Germany
    UK
    Sweden
    Denmark


  APAC

    China
    Japan
    South Korea


  North America

    US


  South America



  Middle East and Africa

By Source Insights

The market share growth by the fossil fuels segment will be significant during the forecast period. District heating networks offer an efficient and economical means of supplying low-carbon heat to residential areas on a large scale. This heavy reliance on non-renewable energy sources poses a significant hurdle for the shift towards more sustainable heating solutions

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The fossil fuels segment was the largest segment and was valued at USD 120.10 billion in 2018. In colder countries, there is a growing push to replace traditional fossil fuel heating sources, such as oil and gas, with renewable energy alternatives to minimize greenhouse gas emissions from district energy systems. However, the demand for fossil fuel-based heat is predicted to persist and increase in the coming years due to population growth. Central heat plants, which are responsible for heat production in district energy systems, can be upgraded to use insulated pipes and renewable energy sources like biomass, geothermal, or solar energy to reduce reliance on fossil fuels. Boilers, a common heat production technology in district heating systems, can also be retrofitted with advanced technologies to improve efficiency and reduce emissions.

Regional Analysis

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Europe is es

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Petroleum Liquid Feedstock Market Size 2024-2028

The petroleum liquid feedstock market size is forecast to increase by USD 77.22 billion at a CAGR of 4.5% between 2023 and 2028. The market is experiencing significant growth, driven by the rapid expansion of the transportation sector. This sector's increasing demand for fuel is leading to a wave in the consumption of petroleum liquid feedstocks. Another trend influencing the market is the adoption of blockchain technology in the oil and gas refining industry. Blockchain's transparency and security features are expected to streamline operations, reduce costs, and enhance efficiency in the refining process. Hydrocarbons, such as naphthalene, xylene, benzene, toluene, and heavy naphtha, are essential hydrocarbon feedstocks used in the production of industrial solvents, fuels, and other oil-based commodities. However, the market's growth is not without challenges. The volatility in global crude oil prices continues to pose a significant threat to market stability, making it essential for market players to adopt strategies that mitigate price risks and ensure long-term profitability.

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The petrochemical industry relies heavily on petroleum liquid feedstocks as the primary raw material for producing a wide range of chemicals, polymers, and other petrochemical products. The automotive fleet and the energy sector are significant consumers of these products, with motor vehicles utilizing petrochemicals for fuel and in the production of plastics and textiles. Petrochemical plants and refineries are the primary sources of these feedstocks, which include oil naphtha, coal naphtha, and wood naphtha.

The petrochemical industry's demand for these feedstocks is expected to grow due to increasing demand from the automotive and energy sectors. Crude material, such as unrefined petroleum, is the primary source of these feedstocks. Oil organizations play a crucial role in the production and distribution of these feedstocks to meet the growing demand from various industries. With the rise of electric vehicles, the demand for traditional fuels may decrease, but the demand for petrochemical products derived from these feedstocks is expected to remain strong due to their wide range of applications.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD Billion' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Type

  Naphtha
  Gasoil


Application

  Industrial solvents
  Cleaning fluids
  Adulterant to petrol
  Gasoline
  Others


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    India


  South America



  Middle East and Africa

By Type Insights

The naphtha segment is estimated to witness significant growth during the forecast period. The petrochemical industry relies heavily on petroleum liquid feedstock derived from crude oil for the production of various chemicals, polymers, and petrochemical products. In the refining process, crude oil undergoes primary distillation, resulting in the production of naphtha. This fractional distillation separates hydrocarbons based on their boiling points, yielding light and heavy naphtha. Light naphtha is primarily used as a feedstock for the synthesis of ethylene, which is further processed to produce synthetic rubber and other essential polymers. Conversely, heavy naphtha serves as a feedstock for the production of high-octane gasoline and aromatics, such as benzene, xylene, and toluene, essential for the automotive fleet and energy sector.

Moreover, naphtha is also used as marine fuel, bunkers, and motor vehicle fuel. With the increasing focus on cleaner energy sources and climate change mitigation, the petrochemical industry is exploring alternative feedstocks, such as biofuels, renewable feedstocks, biomass, waste oils, and even carbon fiber. Simultaneously, the exploration of unconventional crude oil deposits, including shale gas and offshore drilling, continues to expand refinery capacity. Data analytics plays a crucial role in optimizing refinery operations and enhancing the overall efficiency of the petrochemical sector. The chemical sector also utilizes naphtha, coal naphtha, and other hydrocarbons as feedstocks for steam crackers to produce essential chemicals, such as octane, propylene, and butadiene.

The integration of LNG terminals and gas imports further expands the availability of feedstocks, ensuring a steady supply to meet the growing demand for petrochemical products in various industries, including textiles, plastics, and the energy sector.

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The Naphtha segment accounted for USD 220.99 billion in 2018 and showed a gradual increase during the forecast per