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Posted: 06/11/2019

Heating Oil Market Price Information October 2019

Heating Oil Market Price Information October 2019

Heating Oil Market Price Information October 2019.

Oil Market, Exchange Rate and Heating Oil Price Information October 2019.

Brent Crude Dated ($ per Barrel)

Price at Start of Month: $59.88                Price at End of Month: $59.15

Highest Price in Month: $61.79                Lowest Price in Month: $57.74

Pound £ to US Dollar Rate $ Exchange Rate FT:

Start of Month: 1.2223                              End of Month: 1.2940

Kerosene (Heating Oil) Cargo Price $ per tonne       

Start of Month: $629.50                                           End of Month: $608.25

Highest Price in Month: $637.75                            Lowest Price in Month: $608.25

Resulting in a Heating Oil Price (Pence Per Litre) Monthly range: 3.64 ppl

NOTE : The exchange rate has driven the bulk of the price movement whilst crude has been relatively flat – not breaking $62

A trade war between China and the United States has been weighing on the demand outlook for oil.

Leaders from the United States and China encountered a new obstacle in their struggle to end the trade conflict when the summit at which they were supposed to meet was cancelled because of violent protests in Chile, the host nation.

A Reuters survey showed that oil prices are likely to remain pressured this year and next. The poll of 51 economists and analysts forecast Brent crude would average $64.16 a barrel in 2019 and $62.38 next year.

The U.S. Federal Reserve cut interest rates for a third time this year on Wednesday, looking to bolster economic growth with a move that could also boost demand for crude.

Oil Market commentary & Market Data available from:

http://www.bbc.co.uk/news/business/market_data/commodities/default.stm