Tuesday, September 2nd16.7°C
22817
22805

Crude oil slips nearly 2% as concerns over Ukraine ease, US supplies rise

The price of oil fell nearly two per cent Wednesday as concerns over the crisis in Ukraine eased and U.S. supplies rose for a seventh consecutive week.

Benchmark West Texas Intermediate crude for April delivery dropped $1.88, or 1.8 per cent, to close at US$101.45 a barrel on the New York Mercantile Exchange. On Tuesday, oil fell $1.59 to close at $103.33.

Brent crude, used to set prices for international varieties of crude, dropped $1.54 to US$107.76 a barrel on the ICE Futures exchange in London.

Russia and the West sought to find a diplomatic solution to the crisis in Ukraine. Still, the situation remains tense. Both pro-Western and pro-Russia demonstrations continue to flare up in the country and Russian troops are fanned out across Crimea and control most of its strategic facilities.

In the U.S., the Energy Department's Energy Information Administration said supplies of oil rose by 1.4 million barrels last week. Also, demand for both gasoline and distillate fuels, which include diesel and heating oil — have fallen over the past four weeks compared with a year ago, the agency said.

In other energy futures trading on Nymex, wholesale gasoline lost five cents to US$2.94 a U.S. gallon (3.79 litres), heating oil fell five cents to US$2.99 a gallon and natural gas retreated 14 cents to US$4.52 per 1,000 cubic feet.

(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

22819


Recent Trending




Today's Market
S&P TSX15625.73+67.561
S&P CDNX1023.991.62
DJIA17098.4518.88
Nasdaq4580.271+22.577
S&P 5002003.37+6.63
CDN Dollar0.9162-0.0032
Gold1281.70-2.1001
Oil95.96+1.29
Lumber349.60+2.60
Natural Gas3.965+0.054

 
Okanagan Companies
Pacific Safety0.20+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.190.00
Cantex0.08+0.01
Anavex Life Sciences0.25+0.01
Metalex Ventures0.0750.00
Russel Metals36.48+0.09
Copper Mountain Mining2.93+0.02
Colorado Resources0.180.00
ReliaBrand Inc0.10+0.001
Sunrise Resources Ltd0.0250.00
Mission Ready Services0.245-0.005

 



23057

FEATURED Property
18315585351 Ptarmigan Street, Kelowna, BC
5 bedrooms 4 baths
$684,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


At the Core: Lessons in pricing from Apple

Apple has taught many entrepreneurs the importance of design, how to create buzz when introducing new products to the marketplace, how to pioneer new technology and the importance of superior quality....


New Real Estate Brokerage in town

Move over “big guys” there’s a new brokerage in town featuring local expertise, long standing experience and a fresh boutique approach. Kelowna, August 31 2014 – You may have...


How much mortgage should you carry?

There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...

_



22692

22692


Member of BC Press Council


22810