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Posted by Neil Brunskill
Heating oil prices in Northern Ireland have dipped slightly today (October 14th), following rises earlier in the week.
The cost of the commodity previously climbed from 55.16p per litre on Monday up to 55.42p by Wednesday, though slight declines yesterday and this morning have taken the average price of the fuel in the country to 55.35p.
Heating oil prices have been stable at around this level for much of the last two weeks, remaining at between 55p and 55.5p per litre since the beginning of October, after a large drop in late September saw the commodity fall by over 2p.
Meanwhile, Reuters reported that the outlook for the global oil industry is gloomy, as delegates at a major event expressed scepticism about the fuel's performance over the next few months.
Just one-third of experts at the Oil & Money conference this week foresaw Brent crude ending 2011 at over $100 (£63.49) a barrel, while 65 per cent believe demand for oil products will be weaker than previously expected.
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