Imminent change in UK Heating Oil pricing probably

 

  


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.

UK heating oil prices have now fallen from a high of 39.05ppl to 38.78ppl over the last 14 days and matches prices back on October 10th 2016. Oil heating still being the cheaper alternative fuel at the moment.  The blue logarithmic UK Average price trend is currently sitting at 38.87 ppl and is suggesting an imminent change in pricing probably next week given that there appears to be a sustained upward trend in crude oil pricing.
 
 

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.

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