Energy and Utility Management Consultants

Prices creep up after lull

July 2012

 

The price of Brent crude oil has started to climb following a recent slump to $90 per barrel and is now sitting at around $100 per barrel - its highest point for a month, but still a long way below the high of $125 in March 2012. As is the norm, gas and electricity prices have followed suit and have also seen small upward ticks over the last few days, though nothing that should set alarm bells ringing too loudly.

 

The unsettled prices can be largely put down to the stress on the markets caused by Iranian / UN tensions and strikes by Norwegian oil workers. The current unpredictable weather with localised flooding and high winds is also a driving factor – this sort of weather is likely to continue for the next 2 weeks, after which fine weather is being forecast, but no Indian summer is expected unfortunately.

 

 

 

 

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