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Posted: 09/05/2017

Heating Oil Price Key Market Information April 2017

Heating Oil Price Key Market Information April 2017

Heating Oil Price Key Market Information April 2017

Oil Market, Exchange Rate, and Heating Oil Price Information April 2017

Brent Crude Dated ($ per Barrel)

Price at Start of Month: $52.10                Price at End of Month: $50.46

Highest Price in Month: $55.01                Lowest Price in Month: $49.42

Pound £ to US Dollar Rate $ Exchange Rate FT:

Start of Month: 1.25.1                               End of Month: 1.29.4

Kerosene (Heating Oil) Cargo Price $ per tonne

Start of Month: $502.25                                           End of Month: $482.75

Highest Price in Month: $530.50                            Lowest Price in Month: $482.75

Resulting in a Heating Oil Price (Pence Per Litre) Monthly range: 3.97 ppl

Interesting Articles on the oil price this month

10th April 17 Why Breakeven Prices are plunging across the oil industry.

http://oilprice.com/Energy/Oil-Prices/Why-Breakeven-Prices-Are-Plunging-Across-The-Oil-Industry.html

17th April 17 Bloomberg – Bets on oil price rise

https://www.bloomberg.com/news/articles/2017-04-16/bets-on-oil-rise-advance-on-signs-opec-cuts-will-outdo-u-s-boom

28th April 17 Oil Prices recover but on fragile sentiment

http://www.economiccalendar.com/2017/04/28/crude-oil-prices-recover-ground-sentiment-remains-fragile/

Oil Market commentary & Market Data available from:

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

April 17: The fundamentals for crude oil prices remain weak with imports holding higher than expected, US crude production posting steady growth which has totalled a massive 750,000 bpd since 1st October 2016 and US product demand weak. As a result the "days cover" (total crude stocks divided by total product demand) remains near the 12 month high. WTI Crude is testing support at $50/b. with the pressure to the downside with the potential for a clear break below this level would open the way for a correction lower.