Wednesday, July 30th33.8°C
22568
22455

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 TSX15524.82+78.271
S&P CDNX1011.10-5.40
DJIA16880.36-31.75
Nasdaq4462.902+20.204
S&P 5001970.07+0.12
CDN Dollar0.9170-0.0001
Gold1310.00+6.70
Oil99.52-0.75
Lumber328.70+6.40
Natural Gas3.73-0.017

 
Okanagan Companies
Pacific Safety0.1850.00
Knighthawk0.01-0.005
QHR Technologies Inc1.22+0.02
Cantex0.085+0.02
Anavex Life Sciences0.26-0.0075
Metalex Ventures0.08-0.005
Russel Metals35.22-0.07
Copper Mountain Mining2.83-0.03
Colorado Resources0.22-0.005
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.03-0.005
Mission Ready Services0.15-0.005

 



22704

FEATURED Property
2007909214 - 2440 Old Okanagan Hwy.
4 bedrooms 3 baths
$298,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22097