Brent Crude Dated ($ per Barrel)
Price at Start of Month: $52.79 Price at End of Month: $57.09
Highest Price in Month: $59.31 Lowest Price in Month: $52.79
Pound £ to US Dollar Rate $ Exchange Rate FT:
Start of Month: 1.2885 End of Month: 1.3417
Kerosene (Heating Oil) Cargo Price $ per tonne
Start of Month: $547.00 End of Month: $571.75
Highest Price in Month: $576.00 Lowest Price in Month: $539.25
Resulting in a Heating Oil Price (Pence Per Litre) Monthly range: 1.95 ppl
Crude showed a significant increase in cost over the course of the month, but the impact in pence per litre terms for heating oil was reduced by the variation in the exchange rate.
Oil Market commentary & Market Data available from:
Oil Price Volatility Is Set To Return
Oil markets could experience more intense price volatility in the coming years because of insufficient investment in new production. Investment is returning to the oil industry too slowly to eliminate the risk of tighter supply that would, in turn, cause price volatility even in the context of slowing global oil demand growth.