Tuesday 11.30 am sees all Crude Oils makling a recovery. Brent Crude is up to $51.72 up $0.37 or 0.72%. WTI is still well below the $50.00 mark, but trading up at $48.68 up $0.28 or 0.58%. Bloomberg’s heating oil price at $1.5059 per gallon is up by $0.53 or 0.35%. As far as the UK is concerned we are now past the traditional heating season and heating oil prices will continue to stabilise in the next two days and level out pending the outcome of crude oil prices. The overall crude oil price now seems to have made a turn but how significant remains to be seen as demand for different products starts now.
Over the last 14 days the average UK price ranged from 43.67 ppl to 42.49 ppl. This week saw UK average heating oil drop a 1.0 ppl. The blue logarithmic UK Average price continues to trend downwards and just below the 43.00 ppl mark. The milder weather, and the poor performance of crude will continue to force heating oil downwards.
Over the last 7 days the average UK heating oil price has tumbled by 1.00 ppl to 42.45 ppl with an average of 43.00. In England, prices fell by 1.05 ppl to 42.34 ppl with an average of 42.90 ppl. Scotland has decreased by 0.48 ppl and is at 44.23 over the week with an average of 44.36 ppl. Wales saw a fall of 0.76 ppl to 41.84 ppl with an average of 42.37 ppl. Northern Ireland saw a fall of 0.64 ppl to 40.32 ppl with an average of 40.66 ppl.