Friday 6th October 2017. Crude oil prices have slid from yesterday’s prices but are still up on Wednesday’s prices. Brent Crude is down $0.23 or 0.40% to $56.77. WTI, is at $50.39 down $0.40 or 0.79%. Bloomberg is also reporting a drop in heating oil at $1.7825 a drop of $0.38 or 0.21%.
UK heating oil prices have fluctuated between 41.60ppl and 42.35ppl over the last 14 days but there were lows of 41.61ppl and highs of 42.34ppl. Prices are again falling because crude oil has lost some momentum. We are still some 2ppl off the prices in December 2016 which were 44.00ppl so watch needs to be maintained on heating oil prices for the foreseeable 2 months. It is more than likely heating oil prices will increase slightly. Our reckoning is that they could be at that 44ppl level by Mid November this year. The blue logarithmic line is still rising and is indicating a increase in price to 42.15ppl in the very near future. In real terms buy heating oil now or on the downward side of actual prices.
Over the last 7 days the average UK heating oil price continues to fall and is now down by 0.54ppl to 41.73ppl with a 7 day average of 42.04ppl. In England, prices fell by 0.0.59ppl to 41.38ppl with a seven day average of 41.72ppl. Scotland has also fallen by 0.43ppl over the week to 44.13ppl with an average of 44.38ppl. Wales saw a decrease of 0.50ppl to 41.30ppl with an average of 41.64ppl. Northern Ireland also saw a fall of 0.13ppl to 40.38ppl with a 7 day average of 40.50ppl.