Friday, March 27th5.1°C
25657
25173

Price of oil barely stays above US$100; natural gas prices soar on supply report

The price of oil barely budged Thursday as benchmark West Texas Intermediate crude for March delivery slipped two cents to US$100.35 a barrel on the New York Mercantile Exchange.

U.S. economic indicators were mostly downbeat on Thursday, suggesting weak demand, although a report from the International Energy Agency gave oil some support.

The agency raised slightly its 2014 forecast for global demand to 92.6 million barrels a day, 125,000 barrels above its previous expectations from a month ago.

Meanwhile, natural gas futures jumped 40 cents, or eight per cent, to $5.22 per 1,000 cubic feet. The U.S. Energy Department said supplies fell by 237 billion cubic feet last week, more than the decline of 230 billion cubic feet predicted by analysts.

Brent crude, which is used to set prices for international varieties of crude, fell six cents to US$108.73 on the ICE Futures exchange in London.

In other energy futures trading in New York, wholesale gasoline rose one cent to US$2.78 a U.S. gallon (3.79 litres) and heating oil added two cents to US$3.03 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




Recent Trending




Today's Market
S&P TSX14869.80-59.57
S&P CDNX679.56+2.32
DJIA17678.23-40.31
Nasdaq4863.36-13.16
S&P 5002056.15-4.90
CDN Dollar0.7989-0.0021
Gold1204.90+7.60
Oil50.62-0.81
Lumber287.80+1.80
Natural Gas2.655-0.017

 
Okanagan Companies
Pacific Safety0.13+0.01
Knighthawk0.010.00
QHR Technologies Inc1.50+0.00
Cantex0.03-0.01
Anavex Life Sciences0.21+0.00
Metalex Ventures0.04-0.01
Russel Metals24.68-0.28
Copper Mountain Mining1.13+0.00
Colorado Resources0.115-0.010
ReliaBrand Inc0.0075-0.0004
Sunrise Resources Ltd0.045+0.000
Mission Ready Services0.235-0.005
Decisive Dividend Corporation1.78-0.32

 



24910

FEATURED Property
22447206806-Santiago Loop
3 bedrooms 2 baths
$475,000
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


25322