By David J Brown
Friday 11th August 2017. Today Brent is down at $51.84 down $0.86 or 1.63%. WTI has risen to $48.63 up $0.04 or 0.08%. Bloomberg’s heating oil price crept up to a weak $1.6318 up $0.05 or 0.03% after plummeting yesterday. Since snapshot was taken the heating oil price has dropped further. As a result we are expecting average UK prices to drop in the region of 0.06ppl – 0.10ppl to a UK average of 38.62ppl today and hold for the weekend.
UK heating oil prices have been moving towards a plateau in the last 6 days as the crude oil market continues to roller coaster. The price of heating oil is falling again as uncertainty prevails in the market place. The blue logarithmic UK Average price trend is currently sitting at just over 38.80ppl and will probably levelling off as the effects of crude on heating oil prices filter through. Still a good time to buy heating oil in the summer months. Avail yourself of low pricing and stock up until your tanks are full bny getting multiple quotes from heatingoilshop.com.
Over the last 7 days the average UK heating oil price has fallen by 0.06ppl to 38.62ppl with a 7 day average of 38.68ppl. In England, prices fell by 0.08ppl to 38.07ppl with a seven day average of 38.13ppl. Scotland has decreased by 0.06ppl over the week to 42.03ppl with an average of 42.10ppl. Wales saw a fall of 0.05ppl to 38.24ppl with an average of 38.32ppl. Northern Ireland saw a decrease of 0.06ppl to 37.11ppl with a 7 day average of 37.41ppl. Reductions in all regions are unusually uniform today.
We believe UK heating oil prices will remain at today’s level for the rest of the week.