Wednesday 9th August 2017. Today Brent is at $52.32 up $0.18 or 0.35%. WTI has also up to $49.36 up $0.0.19 or 0.39%. Bloomberg’s heating oil price is also down at $1.6230 up $0.38 or 0.23%. We are expecting average UK prices to settle at 30.65ppl over today and tomorrow.
UK heating oil prices have been moving towards a plateau in the last 4 days as the market cannot probably sustain prices at this moment in time. The uncertainty over Crude prices again means there will be a roller coaster ride for the next few days with prices settling at the end of the week. The blue logarithmic UK Average price trend is currently sitting at just over 38.75ppl and is 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 risen by 0.33ppl to 38.79ppl with a 7 day average of 38.65ppl. In England, prices increased by 0.37ppl to 38.23ppl with a seven day average of 38.10ppl. Scotland has increased by 0.15ppl over the week to 42.21ppl with an average of 42.11ppl. Wales saw a rise of 0.30ppl to 38.48ppl with an average of 38.35ppl. Northern Ireland saw an increase of 0.67ppl to 37.78ppl with a 7 day average of 37.32ppl.
Crude Oil prices, a poor dollar rate and poor weather in the UK has contributed to a small but steady rise in the price of heating oil. For the time being there does seem to be some respite in crude oil and heating oil pricing but not the weather. We believe UK heating oil prices will remain at today’s level for the rest of the week.