The price of Brent crude (1 month forward) has risen to about $68/ barrel. A few weeks ago it was as low as $45 dollars a barrel. It is possibly a good sign that prices are rising – it may be a hint of more demand caused by some economic global recovery. On the other hand – it could just be that OPEC are looking for a target price of $85 a barrel and may not increase production until oil prices are in the $80/ barrel region. If your oil tank is low – it may be a good time to order some heating oil before price rises are passed on. It might also be a good time to look into those grants for insulation and new boilers.
