Sunday, March 29th11.3°C
25657
25546

Oil prices nudge up

The price of oil rose above US$92 a barrel Friday after a big drop in U.S. unemployment benefit claims suggested some improvement in the world's biggest economy, raising expectations for increased demand for energy.

By early afternoon in Europe, benchmark West Texas Intermediate crude for November delivery was up 21 cents at US$92.28 a barrel in electronic trading on the New York Mercantile Exchange. The contract gained 82 cents to close at US$92.07 per barrel in New York on Thursday.

Brent crude, which is used to price international varieties of oil, was down 53 cents at US$115.18 on the ICE Futures exchange in London.

The U.S. Labour Department said Thursday that applications for unemployment benefits fell last week to 339,000. That's the lowest in more than four years. If sustained, the lower level could signal stronger hiring.

"We're going to look for more workers and consumers driving and more diesel demand from manufacturers and retailers delivering," said Carl Larry, president of Oil Outlooks and Opinions.

Oil prices rose Thursday as tension between Turkey and Syria raised concerns that crude oil supplies from the Middle East could be disrupted.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14812.42-57.38
S&P CDNX681.43+1.87
DJIA17712.66+34.43
Nasdaq4891.22+27.86
S&P 5002061.02+4.87
CDN Dollar0.7928-0.0082
Gold1196.30-8.80
Oil48.43-3.00
Lumber282.60-3.60
Natural Gas2.62-0.05

 
Okanagan Companies
Pacific Safety0.125-0.005
Knighthawk0.010.00
QHR Technologies Inc1.50+0.00
Cantex0.03-0.01
Anavex Life Sciences0.219+0.009
Metalex Ventures0.04-0.01
Russel Metals24.50-0.18
Copper Mountain Mining1.13+0.00
Colorado Resources0.125+0.010
ReliaBrand Inc0.006-0.001
Sunrise Resources Ltd0.045+0.000
Mission Ready Services0.255+0.020
Decisive Dividend Corporation1.80+0.02

 



24910

FEATURED Property
2212801#302 - 489 Highway 33
2 bedrooms 2 baths
$209,500
more details
image2image2image2
Click here to feature your property
Please wait... loading


CRA Notice of Assessment

Many Canadians rush to file their taxes on time each year and don’t think about it until the next year. One of the most overlooked notices received from the CRA annually is the annual Notice of ...


Medical confidential?

If ICBC asks your doctor for your information you may wonder: Can ICBC ask my doctor for my medical information? Can ICBC request a medical report from my doctor without my consent? What is ICBC entit...


Stay out of sales limbo!

Have you ever had a series of good meetings with a prospect … gathered all kinds of information … and given what you thought was a great presentation … only to receive a response ...

_








Member of BC Press Council


25534