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Posted: 05/02/2020

Heating Oil Market Price Information January 2020

Heating Oil Market Price Information January 2020

January 2020 started with headlines of WTI Crude Oil prices hitting $70 a barrel amid fears over an Iranian retaliation against America for the death of Major General Suleimani, but finished with prices falling below $50 as global markets feared the Coronavirus outbreak could wallop China’s already sluggish economy and ripple through the rest of the globe.

Oil Market, Exchange Rate and Heating Oil Price Information January 2020.

Brent Crude Dated ($ per Barrel)

Price at Start of Month: $66.16                Price at End of Month: $56.59

Highest Price in Month: $69.82                Lowest Price in Month: $56.59

Pound £ to US Dollar Rate $ Exchange Rate FT:

Start of Month: 1.3188                              End of Month: 1.3182

Kerosene (Heating Oil) Cargo Price $ per tonne       

Start of Month: $652.25                                           End of Month: $540.50

Highest Price in Month: $664.75                            Lowest Price in Month: $540.50

Resulting in a Heating Oil Price (Pence Per Litre) Monthly range: 7.87 ppl

The BBC business news has a very good article on Coronavirus and oil: Why crude has been hit hard

Additional Oil Market commentary & Market Data available from the BBC here: Market Data

The Office for National Statistics record the price of heating oil and publish monthly updates on the average delivered cost of a domestic delivery of 1000 litres of kerosene in the UK . The information held by the ONS is freely available online and can be found here:  ONS Price of heating oil