Oil prices dip slightly in early trading
 02 Jun 2008
Early morning Asian trading has seen oil prices ease back by around $8 (£4.08) from previous record highs of more than $135 a barrel.
Analysts will be scrutinising markets this week the determine whether or not there are signs that oil price inflation is easing back.
Home heating oil customers will be relieved to hear that prices have dropped back slightly, having increased by around 40 per cent since the start of 2008.
Concerns have grown in recent weeks that sharp increases in oil prices have started to dampen demand for fuel, particularly in the United States, which has suffered an economic slowdown.
Supply worries and rising demand in Asian markets have kept oil prices high and producers' cartel Opec has stated that it has no plans to increase production before its September meeting.
Fuel protests have taken place across Europe in recent weeks and world leaders, including UK prime minister Gordon Brown, have called for production to rise in order to meet demand and ease price pressures.
In Asian morning trade, New York futures for light sweet crude slipped to $127.31 per barrel on Monday.
Click here to view home heating oil price trends.
RSS newsfeed
Stay up to date with our RSS newsfeed with articles for all home heating oil users including market/price news and environmental issues.
 RSS newsfeed
Get your FREE instant online quote for home heating oil - we find the cheapest price in your area, saving you time, money and hassle!
More news:
News archive...
© Adfero Ltd
|
