Saturday, July 4th31.8°C
26932
22748

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




Recent Trending




Today's Market
S&P TSX14682.39+44.40
S&P CDNX670.58-1.00
DJIA17730.11-27.80
Nasdaq5009.21-3.91
S&P 5002076.78-0.64
CDN Dollar0.7955-0.0018
Gold1167.10+4.10
Oil56.20-1.41
Lumber288.50+0.40
Natural Gas2.77-0.05

 
Okanagan Companies
Pacific Safety0.17+0.00
Knighthawk0.010.00
QHR Technologies Inc1.52-0.03
Cantex0.035-0.015
Anavex Life Sciences0.455+0.004
Metalex Ventures0.075+0.010
Russel Metals22.78-0.09
Copper Mountain Mining1.17+0.03
Colorado Resources0.09+0.03
ReliaBrand Inc0.006+0.000
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.165+0.005
Decisive Dividend Corporation3.00+0.50

 



26935

FEATURED Property
23101511221 Green Lake Rd
3 bedrooms 1 baths
$379,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Active listening

Has this ever happened to you? You had an initial meeting with a prospect. You asked that prospect what seemed to be all the right questions. You had what felt to you like a good conversation, and bas...


The price of money

Money is not a commodity. By definition, a commodity is a generic product that is bought and sold on price alone. Money, Canadian bills for example, look the same, smell somewhat the same, and are ava...


TFSA strategies

Photo: Thinkstock.comThe federal government has increased the annual contribution limit of Tax-Free Savings Accounts (TFSA) to $10,000. Going forward, the annual limit will no longer be indexed to inf...

_



26376




Member of BC Press Council


25143