Oil Prices nearly 30% Down

[PeterW]

17 minutes ago, Russell griffiths said:

The thing is, I have a 3 year old boiler that has only done a years work when we knocked the old place down, space is not an issue 

i thought I would have an ASHP from the start but this boiler is sitting on a pallet staring at me. 

Have you factored in the recommissioning of the old one..? Will need a decent strip and service and potentially burner refurb if it’s been sat as it will have old oil inside it for 18 months by the time you get it to being installed. 
 

Other thought is can you build a boiler house somewhere now so it’s installed and providing heat to the floor to dry out any slab and keep the  building warm, then swap for an ASHP at a later date as suggested ..? 

[dpmiller]

Dunno about mainland GB but a boiler service is like £50 here inc. a new jet. If it runs, I don't see how anything more could be needed...

 

[Oz07]

As long as the heating system can be swapped to ashp in future it's a no brainer isn't it?

[Russell griffiths]

8 hours ago, PeterW said:

Have you factored in the recommissioning of the old one..? Will need a decent strip and service and potentially burner refurb if it’s been sat as it will have old oil inside it for 18 months by the time you get it to being installed. 
 

Other thought is can you build a boiler house somewhere now so it’s installed and providing heat to the floor to dry out any slab and keep the  building warm, then swap for an ASHP at a later date as suggested ..? 

I’m just think of getting a list going of all the costs to use it versus an ASHP the maker of the boiler is not far from us, I did contemplate taking it back to them for a freshen up. 

[bassanclan]

20 hours ago, ProDave said:

You did well to get it that cheap.  Boiler Juice says only down to 39p https://www.boilerjuice.com/heating-oil-prices/

My transaction didn't go through, but I got it even cheaper today at 21.4p. 

£112.35 for 500l inc vat, I paid £241.26 for the same in September.

[SteamyTea]

price have gone up 30% today.

https://www.bbc.co.uk/news/business-52115442

[Oldsteel]

Rats. Filled up on 19th Feb at 48p/ltr. What a difference a month makes .... Trump just doing a favour for his mates in the shale gas industry crying on his shoulder. He doesnt have a great track record on his predictions!

[Temp]

Looks like oil is under cutting solar...

 

https://www.pv-magazine.com/2020/03/31/jordan-switches-off-all-large-scale-solar/

 

Jordan switches off unsubsidized solar projects

 

The Middle Eastern kingdom has ordered the shutdown of solar wheeling facilities which use the grid to connect to energy offtakers. The move has come in response to tumbling electricity demand after the nation halted all non-essential industries as it tries to limit the spread of Covid-19.

 

Snip

 

The kingdom relies on fossil fuel imports for 80% of its energy mix and will benefit from a rock-bottom oil price at the moment as regional neighbor Saudi Arabia tries to stare down petrochemical rivals the U.S. and Russia by refusing to reduce production levels despite demand tumbling around the world.

 

[SteamyTea]

Oil prices gone negative.

I filled up yesterday, (expletive deleted).

[Temp]

I think it was May futures that went negative. Actually oil is still positive but watch this space.

 

 

[SteamyTea]

Just now, Temp said:

I think it was May futures that went negative. Actually oil is still positive but watch this space.

 

Yes, it was a quirk because of lack of storage.

But who remembers when there was talk of $250/barrel being the new normal?

[Temp]

Crazy isn't it. I'm going to dip my tank tomorrow to see if I can get enough in to make an order.

 

[Onoff]

5 hours ago, Temp said:

Crazy isn't it. I'm going to dip my tank tomorrow to see if I can get enough in to make an order.

 

 

I did. Got about 250 gallons left in a 670 gallon capacity tank. I reckon the price will go up once lockdown eases here.

[Mr Punter]

17 hours ago, SteamyTea said:

But who remembers when there was talk of $250/barrel being the new normal?

 

On GBF it was often put forward that fuel costs would escalate and insulation costs should be weighed against those inevitable increases.  Peak oil and all that.

[SteamyTea]

21 minutes ago, Mr Punter said:

On GBF it was often put forward that fuel costs would escalate and insulation costs should be weighed against those inevitable increases.  Peak oil and all that.

Yes it was, and I did not support it.

 

I had a wager, in 2008, with the science department technician that oil prices would drop.  A year later it was almost half the price ($91 down to $53).

It was a refining bottleneck that caused the 2008 spike.

 

 

[Temp]

Just been quoted £206 for 1000 L delivered from BoilerJuice. Two other online services quoted £230 and £260.

[Ferdinand]

I see that heating oil prices are below 20p per litre.

 

https://www.boilerjuice.com/heating-oil-prices-england/?utm_term=heating oil prices&utm_source=google&utm_medium=cpc&src=252&gclid=CjwKCAjwwMn1BRAUEiwAZ_jnEkqWEBRhEglSHB2VrX4fLp74-Mw1rJuklg3aUAtrk7JinZ-7b_B-ARoCci0QAvD_BwE

[Onoff]

36 minutes ago, Ferdinand said:

I see that heating oil prices are below 20p per litre.

 

https://www.boilerjuice.com/heating-oil-prices-england/?utm_term=heating oil prices&utm_source=google&utm_medium=cpc&src=252&gclid=CjwKCAjwwMn1BRAUEiwAZ_jnEkqWEBRhEglSHB2VrX4fLp74-Mw1rJuklg3aUAtrk7JinZ-7b_B-ARoCci0QAvD_BwE

 

They were the other day, 17ppl if I recall.

[bassanclan]

They have risen about 20% from their low a week ago, but brent crude is now around $30 a barrel.

I'm going to look around 19 may when the next futures contract expires and traders have to sell oil to avoid it being delivered to their desk! This phenomenon last month caused the negative oil price

[Hobbiniho]

we are starting to run out of ullage space at work and there is a shortage of tankers, it will be really close whether or not a tanker can be found before we run out of ullage, there is a serious glut of oil around the world and such a low demand for oil that lots of tankers are sitting full 

[Temp]

Oil prices and oil stock rose earlier this week. I was quoted 19.6p delivered about 5 days ago but 22.9 today. Decided not to wait and have actually ordered 1500 L for delivery by 21st May by which time it might just fit in the tank.