There has been very little in the upward movement of crude over the last two days. As at 10.05 today GMT crude oils are making a little headway on pricing. Brent Crude today at $51.18 up $0.43 or 0.85%. WTI is still well below the $50.00 mark, but trading up at $48.16 up $0.43 or 0.90%. Bloomberg’s heating oil price at $1.5121 per US gallon is up by $0.96 or 0.64%. We cannot see the UK Heating Oil market making any big falls now baring a catastrophe in the market place.
Over the last 14 days the average UK price ranged from 42.50 ppl to 40.25 ppl. The blue logarithmic UK Average price continues to trend downwards and sits on the 40.25 ppl mark. The gap between the two has closed further leaving very little wiggle room now for falling prices. The milder Spring weather, and the sluggish performance of crude may only result in 1/100ths of a penny off prices.
Over the last 7 days the average UK heating oil price has tumbled by 0.65 ppl to 40.25 ppl with an average of 40.46. In England, prices fell by 0.71 ppl to 39.77 ppl with an average of 40.03 ppl. Scotland has decreased by 0.64 ppl and is at 43.38 over the week with an average of 43.54 ppl. Wales saw a fall of 0.59 ppl to 39.55 ppl with an average of 39.80 ppl. Northern Ireland saw a fall of 0.74 ppl to 38.13 ppl with an average of 38.44 ppl.