Saturday, January 31st-0.9°C
24624
24890

Oil snaps 2 days of steep losses

Oil prices broke two days of steep losses Friday and scrambled back above US$93 a barrel amid official predictions that economic growth in Europe will accelerate in the second half of the year. Ample supplies kept gains in check.

By early afternoon in Europe, benchmark West Texas Intermediate crude for April delivery was up 30 cents at US$93.14 a barrel in electronic trading on the New York Mercantile Exchange.

The contract fell $2.38, or 2.5 per cent, to finish at US$92.84 a barrel in New York on Thursday, the second drop of two per cent or more in two days.

The European Union's executive arm, the European Commission, said Friday that it expects the recession currently afflicting the economy of the 17 countries sharing the euro to bottom out in the first half of 2013, with growth seen reaching an annual rate of 0.7 per cent in the last three months of the year. In 2014, growth in the eurozone is forecast to accelerate to 1.4 per cent.

This has not stopped the rise at the pumps, here is a snap shot of today's prices.

The Canadian Press


Read more Business News

23015


Recent Trending




Today's Market
S&P TSX14673.48+37.521
S&P CDNX676.81+9.70
DJIA17164.95-251.90
Nasdaq4635.24-48.167
S&P 5001994.99-26.26
CDN Dollar0.7856-0.0067
Gold1286.60-5.10
Oil49.60+3.16
Lumber322.50+0.70
Natural Gas2.87-0.111

 
Okanagan Companies
Pacific Safety0.120.00
Knighthawk0.010.00
QHR Technologies Inc1.400.00
Cantex0.035-0.005
Anavex Life Sciences0.174-0.006
Metalex Ventures0.040.00
Russel Metals23.42-0.16
Copper Mountain Mining0.99+0.01
Colorado Resources0.150.00
ReliaBrand Inc0.01+0.0031
Sunrise Resources Ltd0.050.00
Mission Ready Services0.2350.00

 



24153

FEATURED Property
19009594118 Gallaghers Blvd. S
3 bedrooms 3 baths
$675,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Leaving a job: changing careers

Many people, who find themselves out of work and with time on their hands, and money in their pockets due to lay-off, start thinking about a career change. If you weren’t happy with the directio...


Service fit makes happy employees

Finding the right employees for the front lines of your company is key to developing a great service attitude within your company. It is just as important as hiring the right accountant, manager, sale...


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...

_








Member of BC Press Council


24697