Oil prices

[secrethedgehog]

With all the talk about ridiculous gas and electricity prices, does anyone know what's happening with oil ?
We have oil fired heating. Obviously our last tank was massively more expensive than normal but is it going up exponentially like electricity and gas ?

Last time I looked it had come down slightly from the high 3 or 4 months ago, but only slightly. It had more than doubled between our last 2 deliveries. Scary stuff, and no one ever mentions heating oil prices.

It dropped last week and then up again! 100 litre back up to £900!ish

1000 litres

Price seems to have levelled off a bit. For a minute or two?

Just ordered oil today as thought it would be down in price. Seemingly it was, two weeks ago but crept back up and was 99p per litre today for 500L. ☹️

We filled our tank three weeks ago and it was 3x the price of 12 months ago.

But that was 1/3 cheaper than our neighbour who filled theirs couple of weeks earlier so prices have come back down a bit

OPEC+ has basically said they're not going to meet their quotas. In fact, everyone bar the UAE is talking of cuts. And Brent crude is trading above $100/bbl. today.

There is going to have to be a much larger jump in price to balance supply and demand in the market. The US has been releasing oil from its strategic reserve most of the year, and it's having no real impact.

Just bought some at 0.92 please excl. VAT. Biomedicine had if this weekend at 5p per litre lower. However, I am buying with an oil club so the price may come in lower.