Monday, April 21st4.7°C
19345
20944

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

19052


Recent Trending




Today's Market
S&P TSX14500.39+53.87
S&P CDNX998.770.80
DJIA16408.54-16.31
Nasdaq4095.516+9.291
S&P 5001864.85+2.54
CDN Dollar0.9078+0.0007
Gold1284.20-9.2001
Oil104.17-0.13
Lumber329.70-2.70
Natural Gas4.783+0.042

 
Okanagan Companies
Pacific Safety0.115+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.29+0.07
Cantex0.055+0.01
Anavex Life Sciences0.3750.00
Metalex Ventures0.08+0.005
Russel Metals30.66+0.11
Copper Mountain Mining2.35-0.07
Colorado Resources0.255-0.01
ReliaBrand Inc0.12-0.01
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.25+0.02

 



17772

FEATURED Property
1877402515 Hollydell Rd
5 bedrooms 3 baths
$329,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Learning to flirt with the edge

With all of the adventure activities I have done and still do, I wonder sometimes if the edge still exists. The systematic approach to learning a new adventure or extreme activity combined with the r...


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...


Valuation fears grip markets

The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...

_



21604

21368


Member of BC Press Council


21202