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
28th April 17 Oil Prices recover but on fragile sentiment
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.