Crude falls below $90 for the first time since August as Qatar reports progress on Iran talks
Crude oil fell below $90 a barrel this week for the first time since August as Qatar reported progress on US-Iran talks. A 1,000-litre fill costs about £1,080 including VAT, the cheapest since early September and roughly £20 less than a week ago.
President Trump met Qatar's prime minister at the White House on Monday and afterwards called the war with Iran 'effectively over' militarily, though he is keeping America's blockade of Iranian ports in place. Qatar, which carries messages between the two sides, said on Tuesday it had seen progress but could not say how close a deal is.
Crude oil fell below $90 a barrel on Tuesday for the first time since August. It climbed back on Wednesday when Iran's top security official, Mohsen Rezaei, denied that any talks were taking place, and slipped again on Thursday on hopes of a ceasefire in Ukraine, even though this week's talks in Abu Dhabi ended without one.
Diesel has held up better than crude, which matters here because UK heating oil follows diesel and jet fuel, made in the same part of the refinery. Ukrainian drones have disrupted refineries that handle about 30% of Russia's oil since late October, and on Wednesday they set fire to Ust-Luga, Russia's main oil export port on the Baltic.
Your next fill
At Fueltool's UK average today, a 1,000-litre fill costs about £1,080 including VAT, the cheapest since early September. That is roughly £20 less than at Monday's brief and roughly £20 less than a week ago, as the fall in crude since the start of November keeps feeding through.
A fill over the past month
1,000 litres · including 5% VATView the daily figures
| Date | 1,000 litres, incl VAT |
|---|---|
| 14 Oct 2026 | £1206.98 |
| 15 Oct 2026 | £1191.75 |
| 16 Oct 2026 | £1189.13 |
| 17 Oct 2026 | £1191.65 |
| 18 Oct 2026 | £1191.65 |
| 19 Oct 2026 | £1176.00 |
| 20 Oct 2026 | £1189.13 |
| 21 Oct 2026 | £1198.05 |
| 22 Oct 2026 | £1196.48 |
| 23 Oct 2026 | £1189.65 |
| 24 Oct 2026 | £1198.05 |
| 25 Oct 2026 | £1198.05 |
| 26 Oct 2026 | £1198.05 |
| 27 Oct 2026 | £1185.35 |
| 28 Oct 2026 | £1196.48 |
| 29 Oct 2026 | £1155.00 |
| 30 Oct 2026 | £1176.00 |
| 31 Oct 2026 | £1175.16 |
| 1 Nov 2026 | £1175.16 |
| 2 Nov 2026 | £1165.50 |
| 3 Nov 2026 | £1168.02 |
| 4 Nov 2026 | £1157.52 |
| 5 Nov 2026 | £1102.50 |
| 6 Nov 2026 | £1103.55 |
| 7 Nov 2026 | £1105.13 |
| 8 Nov 2026 | £1105.13 |
| 9 Nov 2026 | £1103.55 |
| 10 Nov 2026 | £1092.00 |
| 11 Nov 2026 | £1095.15 |
| 12 Nov 2026 | £1086.33 |
What to watch
Whether America replies to the conditions Iran has sent through Qatar, and whether ships keep getting through the Strait of Hormuz, the sea lane that carries about a fifth of the world's oil. Whether Ukraine keeps hitting Russian refineries and ports.
And the suspension of the 4% tariff on imported heating oil, which starts on 26 November.
Sources
Al Jazeera, Euronews, OilPrice.com, OilPrice.com, OilPrice.com. Prices: Fueltool's UK average.