Thursday 13th April : Crude oils continue tro slip back. After trending higher in recent sessions, the price of crude oil gave back some ground over the course of the trading day today.
The pullback by the price of crude oil came as traders cashed in on the recent strength despite a report from the EIA showing an unexpected drop in crude oil inventories. Brent Crude was at $55.90 up $0.04 or 0.07%. WTI is also trading down at $53.10 down $0.01 or 0.02%. Bloomberg’s heating oil price at $1.6529 is up a tad by $0.09 or 0.05%. We are expecting heating prices to drop after the Easter Break.
UK heating oil prices continue to rise 14 days in a row on our 14 days figures. The price of heating oil has risen by just over 1.55 ppl. That’s an additional £7.75 on 500 litres £15.50 on a 1000 litre load The average price over the last 14 days has ranged from 40.50 ppl to 42.10 ppl. However, there is the slightest hesitation in the price which suggests heating oil prices have reached a plateau.the market. The blue logarithmic UK Average price continues to show an upwards trend which is now starting to plateau at the 41.40ppl mark.
Over th last 7 days the average UK heating oil price increased by 0.94 ppl to 42.07 ppl with an average of 41.56. In England, prices rose by 1.08 ppl to 41.87 ppl with an average of 41.26 ppl. Scotland has decreased by 0.02 ppl over the week to 44.05 ppl with an average of 44.06 ppl. Wales saw the biggest rise of 1.56 ppl to 41.43 ppl with an average of 40.80 ppl. Northern Ireland saw a rise of 0.39 ppl to 39.59 ppl with an average of 39.50 ppl.