Tuesday, March 31st9.9°C
25326

Oil rises to near $102 a barrel on better than expected US hiring figures

The price of oil crept up to near US$102 a barrel Friday after a solid increase in U.S. employment and a decline in the American dollar.

Benchmark West Texas Intermediate crude for April delivery rose $1.02 to close at US$102.58 a barrel on the New York Mercantile Exchange. After a swing in prices earlier in the week due to the situation in Ukraine, oil ended the week with a loss of one cent.

Brent crude, used to set prices for international varieties of crude, gained 90 cents to US$109 a barrel on the ICE Futures exchange in London.

The brutal winter weather didn't faze U.S. employers, who added 175,000 jobs, far more than the two previous months. The U.S. Labor Department said the unemployment rate rose to 6.7 per cent from a five-year low of 6.6 per cent, but that was because more people grew optimistic about their job prospects and began seeking work.

The U.S. greenback fell against most other major currencies, helping oil. A weak dollar encourages holders of other currencies to buy dollar-denominated assets such as oil.

In other energy futures trading on Nymex, wholesale gasoline rose three cents to US$2.97 a U.S. gallon (3.79 litres), heating oil added three cents to US$3.01 a gallon and natural gas fell four cents to US$4.62 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




Recent Trending




Today's Market
S&P TSX14923.21+14.82
S&P CDNX677.69-2.64
DJIA17879.19-97.12
Nasdaq4927.57-19.87
S&P 5002078.08-8.16
CDN Dollar0.7887+0.0001
Gold1186.30+1.50
Oil48.13-0.55
Lumber279.00-0.30
Natural Gas2.66+0.02

 
Okanagan Companies
Pacific Safety0.115-0.010
Knighthawk0.010.00
QHR Technologies Inc1.49-0.01
Cantex0.03-0.01
Anavex Life Sciences0.21-0.01
Metalex Ventures0.045+0.005
Russel Metals24.41+0.01
Copper Mountain Mining1.175-0.005
Colorado Resources0.11-0.01
ReliaBrand Inc0.006-0.001
Sunrise Resources Ltd0.04-0.01
Mission Ready Services0.25+0.02
Decisive Dividend Corporation1.80+0.02

 





FEATURED Property
15096298888 Lakeshore Road
4 bedrooms 2 baths
$19,999,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Down payment

If you have less than 20% down payment, mortgage insurance is required through Canada Mortgage & Housing (CMHC), Genworth or Canada Guaranty. Homeowners no longer need the minimum 5% down payment ...


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...

_








Member of BC Press Council


24222