Sunday 21st May. Brent Crude continues upwards and is now starting to trade up at $53.61 up $1.10 or 2.09%. WTI is also trading up at above the $50 mark at $50.33 up 1.99%. Bloomberg’s heating oil price at $1.5827 is up $3.74 or 2.42%. Expect to see some increases in UK Heating Oil next week.
Over the last 7 days the average UK heating oil price has increased by 0.07 ppl to 38.79ppl with a 7 day average of 38.90ppl. Prices are flat up until now where crude oil prices have made another recovery over the last few days. In England, prices increased by 0.09ppl to 38.19 ppl with a seven day average of 38.29ppl. Scotland has decreased by 0.14ppl over the week to 42.61ppl with an average of 42.92ppl. Wales saw a fall of 0.10ppl to 37.94ppl with an average of 38.04ppl. Northern Ireland saw an increase of 0.05ppl to 36.97ppl with a 7 day average of 36.89. We are expecting prices to rise slightly during next week.