Thursday, November 27th5.1°C
22246
23919

Oil slips below US$97 a barrel; natural gas rockets soars 10 per cent

NEW YORK, N.Y. - The price of oil slipped a bit Friday, but still finished the week with a gain of more than two per cent. A sell-off in global equity markets may have weighed on oil traders' sentiments, producing the first losing day of the week.

Benchmark West Texas Intermediate crude for March delivery fell 68 cents to close at US$96.64 a barrel on the New York Mercantile Exchange. For the week, oil was up $2.27 a barrel, or 2.4 per cent.

Meanwhile, the price of natural gas soared nearly 10 per cent. The frigid temperatures across much of the US Midwest and Northeast have homeowners and businesses cranking up the heat. At the same time, the recent combination of snow, ice and cold temperatures has impeded some natural gas production.

Natural gas jumped 45 cents to reach US$5.18 per 1,000 cubic feet, the highest close since June 2010.

Brent crude, a benchmark for international oil, rose 30 cents to US$107.88 a barrel on the ICE Futures exchange in London.

In other energy futures trading on Nymex, wholesale gasoline was flat at US$2.66 a U.S. gallon (3.79 litres) and heating oil rose six cents to US$3.14 a gallon.

(TSX:ECA), (TSX:IMO), (TSX:SU), (TSX:HSE), (NYSE:BP), (NYSE:COP), (NYSE:XOM), (NYSE:CVX), (TSX:CNQ), (TSX:TLM), (TSX:COS), (TSX:CVE)

The Canadian Press


Read more Business News

23872


Recent Trending




Today's Market
S&P TSX15008.41-30.00
S&P CDNX765.38-5.68
DJIA17827.7512.81
Nasdaq4787.317+29.065
S&P 5002072.83+5.80
CDN Dollar0.8851-0.0038
Gold1193.50-3.10
Oil72.56-1.13
Lumber327.90-1.60
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.160.00
Knighthawk0.01-0.005
QHR Technologies Inc1.32-0.02
Cantex0.04-0.005
Anavex Life Sciences0.171-0.004
Metalex Ventures0.03-0.005
Russel Metals31.37-0.13
Copper Mountain Mining2.17+0.01
Colorado Resources0.12-0.01
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.34+0.015

 
24130


23643

FEATURED Property
20238661320 Chichester Court
5 bedrooms 4 baths
$514,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Second marriage issues

It is not unusual that one or both of the parties planning to marry are approaching marriage for the second time. There are pluses and minuses to this new situation. On the plus side, individuals ente...


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...

_



24220

24119


Member of BC Press Council


23369