Thursday 18th May. Brent Crude is up but is now starting to trade down at $52.07 down $0.14 or 0.27%. WTI is also trading down below the $50 mark at $48.92 up $0.15 or 0.31%. Bloomberg’s heating oil price at $1.5288 is down $0.47 or 0.31%. Expect to see a minimal increase in the price of UK Heating Oil this comining week.
Over the last 7 days the average UK heating oil price has increased by 0.18 ppl to 39.01 ppl with a 7 day average of 38.88 ppl. Prices are up primarily because crude oil has made a small recovery over the last few days. We feel prices over the next few weeks will stabilise with small losses and gains. So buy now! In England, prices increased by 0.13 ppl to 38.42 ppl with a seven day average of 38.28ppl. Scotland has increased by 0.66 ppl over the week to 43.14ppl with an average of 42.86ppl. Wales saw a fall of 0.06ppl to 38.09 ppl with an average of 38.07ppl. Northern Ireland saw a fall of 0.21ppl to 36.82ppl with a 7 day average of 36.91.