Belfast Telegraph

It could be oil right to buy up a barrel or two

By David Elliot

Oil: what is it good for? Pretty much every form of energy at the moment unless you can take advantage of a source of renewable energy.

Always on the lookout for good news, we've mined some from the trading floors.

The unseasonably warm weather has brought the price of crude back a couple of dollars, enough to offer a bit of hope that the next time you go to fill up you'll have change for your mortgage repayment.

North sea Brent crude is trading around $123 (£78) a barrel, down from last week's eight-month high of $125.

Experts' advice? Buy the dips due to the blockade threat from Iran, because the US is preparing for summer driving and because some traders reckon $150 and $200 isn't far off.

You heard it hear first.

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