Another hurricane pushes up oil prices

Crude oil prices were on the rise again yesterday, trading above $100 a barrel. Prices had dropped significantly after the summer peak of $147. It is thought that the slowdown in global economic activity and the increased output from countries like Saudi Arabia had been the main reasons for the decline; coupled with low demand during the summer months for heating oil.

Oil prices have bounced back as Hurricane Ike increased its strength towards a category 4 storm and headed towards the American coastline and the USA’s largest refinery in Baytown. At the same time Opec have announced cuts in output, all causing upwards pressures on the price of oil.

The International Energy Agency thinks there will be a cut in demand for oil next year as consumers in industrial nations alter their lifestyles in response to higher energy prices. One way for those concerned about energy efficiency in their central heating systems is to better manage the controls on their heating boiler.

Installing a HeatingSave controller can save between 15% and 25%+ off fuel usage, providing a shorter payback period than changing a boiler or installing double-glazing. HeatingSave comes complete with PC software that allows you to check and monitor the temperature of the rooms within a building and heating system itself. Once installed, HeatingSave automatically day-by-day improves the energy efficiency of a central heating boiler, significantly reducing the cost of heating bills.