Heating oil prices rise by more than £100 amid Middle East conflict
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Global oil prices spike after Iran launched strikes across the Middle East in response to attacks by the US and Israel.
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Heating oil prices rise by more than £100 amid Middle East conflict 45 minutes ago Share Save Niall Glynn and Hayley Halpin BBC News NI Share Save Prices for home heating oil have spiked in Northern Ireland amid the conflict in the Middle East - with some more than £100 more expensive than last week. Global oil prices have risen after Iran launched strikes across the Middle East in response to ongoing attacks by the US and Israel. On 26 February, the average price of 500 litres of home heating oil in Northern Ireland was £307.38 , according to the Consumer Council NI . However, the price for the same amount from one provider in County Armagh was £395 on Monday. Another provider in County Down was selling 500 litres for £425. Almost two-thirds of homes (62.5%) in Northern Ireland use oil for heating, the highest proportion of the UK nations. The CCNI said crude oil prices are "rising and remain unpredictable in the short term" due to the conflict but they are monitoring the situation. Oil and gas prices jump as conflict escalates Will petrol and diesel prices go up now? Woman sheltered in Dubai hotel basement after air strikes On Monday, Brent crude, the global benchmark for oil prices, jumped by 10% to touch more than $82 a barrel after at least three ships were attacked near the Strait of Hormuz at the weekend . Natural gas prices also surged by as much as 25%. Iran warned vessels not to pass through the crucial waterway in the south of the country, through which about 20% of the world's oil and gas is shipped. 'One more thing to stomach' BBC News NI also spoke to people in Belfast city centre about the impact rising oil prices will have on their lives. Ben Turner said the public has accepted "various different costs for a long time" and this is another rise "you have to stomach". He added that rising fuel prices will only add to "already tight budgets". "It'll be that factor on day trips, particularly with the nicer weather now, but actually will that trip up to t...
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