Crude and Heating Oil Analysis
Sunday 30th June the world awaits OPEC’s decision about oil prices.1st July is the OPEC+ meeting and the industry is holding its breath as once again we , the rest of the world is held to ransom by OPEC and its’ new buddy Russia. Traders are banking on production data that shows U.S. sanctions on Venezuela and Iran have managed to reduce OPEC’s oil production by more barrels than OPEC’s own self-imposed restrictions. If so the sting in the tail may not be, as bad as anticipated by some.
Crude oil and heating oil prices were falling back on Friday, despite OPEC threatening to increase 0production cuts as the US anounces increases in production and is a net oil exporter.
So, for the moment, Brent prices are down $0.93 (1.42%) and is $64.74. WTI is also down $0.96 (1.62%) and is at $58.47. Go to our home page and half way down you’ll see a live market trading position. (Mon-Fri Trading hours)
The #heatingoil price has also fallen back by $2.18 (1.11) to $1.9394 indicating a possible fall in prices. We still recommend you fill your heating oil tanks now as prices are still reasonable. However, unless there is a quick resolution to the heightened tensions we will see all petroleum products rising. Prices today are the same as Dec 8 2017and lower than this day last year by 2.34ppl.
Although attempts to push crude and other petroleum product prices higher they are being met with strong resistance with the US increasing production. Prices are now very much in limbo. Russia is looking to sell Iranian oil which may stagger prices. It is quite clear to us hear that prices will hold firm for the time being. It’s worth getting multiple
#heatingoil quotes from heatingoilshop.com on a regular basis to avoid any possible imminent price rises. Fill up your heating oil tanks on lower prices for now.
Just over the last 10 days distributor average prices have steadily risen by 1.57ppl that’s 3.28%. Today we have seen prices fall back to 49.41ppl. So the market looks unsettled for the immediate future with more price rises likely but dependent on the OPEC+ meeting.
The major deciding factors on prices in the coming weeks will still be the price of crude oil, production cuts, trade wars, warmer weather and availability of product. Iran hopes to sell oil through Russia, thus placing a block on Trump’s embargoes and deflecting any threats of war. The trend is set upwards for now. Keep an eye on your local price situation by getting multiple quotes from heatingoilshop.com,
#checkyourtank & make sure you do not run out of #HeatingOil and top up where necessary. Save money by getting quotes from a heatingoilshop.com distributor and not incentivised brokers.
Distributor vs Broker Analysis
Today, average prices for distributors fell 0.02ppl to 49.41ppl as average broker prices rose 1.10ppl to 51.14ppl. The difference between average distributor
#heatingoil prices versus average online heating oil broker prices rose today to 1.73ppl inc vat. This means you can save an average of £8.65 on 500 litres or £17.30 on a 1000 litres depending on your postcode. There just may be some bargains out there, especially from suppliers. Remember, savings can change in an instant!
Wise up, cost more money. Brokers charge a variety of commissions, surcharges & admin charges or a mixture of all and these affect your final bill. Boilerjuice and Valueoils are notorious for loading quotes with delivery charges, commission and admin charges. All of which push up the PPL exclusive of VAT price. As you can see using a broker today, can cost you more and it does vary from day-to-day and from broker to broker. Individually some of the brokers can be cheaper than the average distributor price. That’s why it is better to choose multiple
#heatingoilquotes from HEATINGOILSHOP.com where the price quotes are free of commissions, delivery or other surcharges, and more competitive.
Today’s Broker Analysis
Average broker prices are up to 51.14ppl today. However, you can see from the above graph which brokers are charging the most today. Northern Ireland based Value Oils is top of the bill as the most expensive todayat 54.47ppl. They are 6.19ppl more expensive HomeFuels Direct. Do you really want to pay £30.95 more for 500 litres or £61.90 more for 1000 litres? In the broker category we have seen a low prices of 48.28 and highs of 54.47 (inc vat). (All prices are dependant on postcode variations). You would be better off comparing prices from heating oil distributors in your area using heatingoilshop.com. Remember, prices change regularly and are delivery postcode dependant.
31 Day Broker Price Analysis
Over the last 30 days up to 30th June, we have sourced broker prices at different postcodes. In the graph below, you can see which heating oil Brokers have performed consistently well or not so well over the month as regards pricing. There have been some changes since last month with Direct Oil once again taking pole position. TankTopper has dropped to second place has being the next expensive last month. We compared prices on the same day and postcode for each one. Our graphic is based on average prices for each brokers’ performance over the last 30 days. The best and worst performers during this period can be clearly identified. HomeFuels Direct remains the most consistently well and low priced broker by being 3.65ppl cheaper.
It has to be said that these are average prices at various postcodes over the course of 30 days and reflects the price consistency of each broker. So choose your brokers with care and watch their prices here.
You’re better off getting multiple quotes through heatingoilshop.com and comparing prices without having to pay commissions or admin charges. It really is time to get multiple heating oil quotes from heatingoilshop.com‘s suppliers and stop paying commissions to brokers. So, hop over to heatingoilshop.com to see if you can reduce your overall
#heatingoil costs this Winter.
Our advice is to keep those tanks topped up without paying commission or other charges being added. If you are low on fuel, less than 25% then you need to take action now and fill up at good prices.
UK Regional Analysis
Over the last 7 days there has been a an average rise in UK oil distributor
#heatingoil prices on the week of 2.00ppl to 49.41ppl.
#Scotland average prices rose by 0.78ppl to 52.51ppl.
#Wales average prices rose by 2.24ppl to 49.36ppl
#NorthernIreland average prices rose 1.16ppl to 46.22ppl.
Always check our daily twitterings on Twitter @ukheatingoils and follow us please.
For current price trends, head on over to heatingoilshop.com and get multiple #heatingoilquotes from suppliers to your area.
Heatingoilshop.com prides itself on not charging commissions, delivery charges and general website usage charges.
The average price table is a guide only and does not constitute an offer. As regional, postcode and supplier differences occur, we encourage you to obtain multiple and competitive #heatingoilquotes from heatingoilshop.com to get the latest deals and prices from the suppliers delivering to your area.
Please note, we do not charge suppliers or consumers brokerage commissions nor do we add surcharges like other sites.