Thursday, October 23rd9.4°C
23840
22916

Oil up as US supplies rise less than expected; natural gas down

The price of oil rose Wednesday as U.S. oil supplies increased less than expected, but natural gas futures fell again on forecasts of warmer weather by the middle of March.

Benchmark West Texas Intermediate crude for April delivery rose 76 cents to US$102.59 a barrel on the New York Mercantile Exchange.

The U.S. Energy Department said crude oil supplies rose by 68,000 barrels last week, well below the increase of 1.5 million barrels expected by analysts surveyed by Platts. Supplies at the key storage point in Cushing, Okla., fell by 1.1 million barrels, helping support oil prices.

Natural gas fell 15 cents to $4.54 per 1,000 cubic feet. Although frigid temperatures have returned this week to parts of the U.S. Midwest and Northeast, forecasts are calling for warmer temperatures as the start of spring approaches.

Brent crude, which is used to set prices for international varieties of crude, gained one cent to US$109.52 on the ICE Futures exchange in London.

In other energy futures trading on Nymex, wholesale gasoline was unchanged at US$2.80 a U.S. gallon (3.79 litres) and heating oil rose two cents to US$3.13 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

23631


Recent Trending




Today's Market
S&P TSX14312.07-235.64
S&P CDNX808.00-14.28
DJIA16461.32-153.49
Nasdaq4382.847-36.632
S&P 5001927.11-14.17
CDN Dollar0.8894-0.0001
Gold1242.90-2.60
Oil79.85-0.28
Lumber330.40+1.70
Natural Gas3.656-0.003

 
Okanagan Companies
Pacific Safety0.12+0.02
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.055-0.025
Anavex Life Sciences0.198+0.006
Metalex Ventures0.05+0.005
Russel Metals32.53-0.56
Copper Mountain Mining2.10-0.07
Colorado Resources0.145-0.005
ReliaBrand Inc0.013+0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.405-0.055

 



23028

FEATURED Property
1538771515 Beaver Lake Road
3 bedrooms 2 baths
$151,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...


Experts share strategies in Kelowna

The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...

_








Member of BC Press Council


22632