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Posted: 03/07/2017

Heating Oil Price Key Market Information June 2017

Heating Oil Price Key Market Information June 2017

Heating Oil Price Key Market Information June 2017

Brent Crude Dated ($ per Barrel)

Price at Start of Month: $50.13                Price at End of Month: $47.46

Highest Price in Month: $50.13                Lowest Price in Month: $44.24

Pound £ to US Dollar Rate $ Exchange Rate FT:

Start of Month: 1.291                                 End of Month: 1.294

Kerosene (Heating Oil) Cargo Price $ per tonne

Start of Month: $484.75                                           End of Month: $472.25

Highest Price in Month: $484.75                            Lowest Price in Month: $446.00

Resulting in a Heating Oil Price (Pence Per Litre) Monthly range: 2.15 ppl

Oil Market commentary & Market Data available from:

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

Commentary: Over the last month the fundamentals for Crude have improved with stocks falling on both the week and year. The difference in stocks, compared to the previous year, fell to a 52 week low. However demand also weakened sharply down a massive 2.2m bpd. This we think means that the near term risks remain to the upside due to the falling stocks and the weakening  US Dollar. $50/b. is in sight for Brent Crude in our opinion, with a corresponding increase in heating oil costs.