Tuesday, September 23rd14.2°C
23284

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

23124


Recent Trending




Today's Market
S&P TSX15129.00-136.35
S&P CDNX928.09-26.97
DJIA17172.68-107.06
Nasdaq4527.689-52.10
S&P 5001994.29-16.11
CDN Dollar0.9102+0.0045
Gold1226.50+8.60
Oil91.50-0.91
Lumber332.20+5.60
Natural Gas3.945+0.037

 
Okanagan Companies
Pacific Safety0.17+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.27-0.10
Cantex0.04-0.01
Anavex Life Sciences0.2195-0.0035
Metalex Ventures0.05-0.01
Russel Metals35.37-0.38
Copper Mountain Mining2.40-0.26
Colorado Resources0.16-0.005
ReliaBrand Inc0.0206-0.0043
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.27-0.02

 



23480

FEATURED Property
1761161959 Regal Road
5 bedrooms 6 baths
$1,495,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Is this a fair offer from ICBC?

“Is this a fair offer from ICBC?”…. “How much should I settle for?”… “What is my claim worth?” These are just some of the questions I regularly get as...


Disruptive innovation

Last night I was privileged to be able to speak at the Greater Westside Board of Trade business awards dinner. Photo: ContributedI talked about Innovation and Collaboration which are two very interes...


Executors and their duties

There will be a time when you will need to decide who you should appoint as executor of your Will. As well, there may be a time when you will be asked by someone to act as the executor of his or her W...

_



23448




Member of BC Press Council


22755