Oil prices bolstered by Chinese refinery demand

Demand by Chinese refinery demands bolstered crude oil prices this week with gains of up to 8%. Nymex August West Texas Intermediate closed at $63.56 a barrel and ICE September Brent at $65.38 a barrel.

7-month high for oil prices

Oil prices finished at a 7 month high yesterday. Nymex July West Texas Intermediate closed at $66.31and ICE July Brent at $65.52.

Crude Oil Prices

Oil prices reached a trading record of $126.98 a barrel on the New York Mercantile Exchange but latter settled at $125.80 (up $1.57).

Save up to £450 when you switch your Gas & Electricity Supplier.

Are you one of the 14m households in the UK that have never switched their energy supplier? Do you know you can save up to £450 on your annual bills by switching from the worst to the best tariff? Prices vary depending on your area but the northeast has some of the most expensive energy costs. You can save money by having a different supplier for your gas and electricity, by paying your bills by monthly direct debit and by switching your account online. You can also negotiate a cashback of up to £30 for dual energy switch. The British Gas Click Energy 4 tariff is about the cheapest currently available for gas in most regions. Consider switching if you are on a more expensive tariff. You can switch through one of the comparison websites.

Get £30 cashback when you switch Gas & Electricity suppliers

You can receive up to £30 cashback by changing your gas and electricity suppliers. A cashback of up to £17.50 is available for a single gas or single electricity switch and £30 for a dual change either with the same supplier or a different one for gas and electricity. You can negotiate a cashback by going direct to the suppliers. Alternatively you can go through comparison sites that have already negotiated a cashback. Some links are provided:

Moneysupermarket.com

Moneysavingexpert.com

Double digit price hikes by Npower

Npower- the fourth biggest energy supplier in the UK - has today announced double digit price hikes of 17.2% for gas and 12.7% for electricity. Annual bills will rise by an average of £95 for gas and £64 for electricity, pushing the average dual gas and electricity bill to more than £1000. There will be a regional variation in gas prices to mirror gas transportation costs with price rises varying from 15% to almost 24%. London and the East Midlands would have the highest increases. Other suppliers are predicted to follow suit shortly.

Are Gas & Electricity Prices Comparison Websites useful?

There are several online comparison websites for gas and electricity prices. Have you used any? Were they useful in helping you switch energy suppliers? Did they save you money on your utility bills? What are their strengths and weaknesses? Which ones would you recommend? Share your experiences and help those who may wish to use one of these websites.