Monday, January 26th1.5°C
24624
24285

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

24813


Recent Trending




Today's Market
S&P TSX14777.34-2.01
S&P CDNX672.63-5.55
DJIA17651.34-21.26
Nasdaq4762.363+4.484
S&P 5002053.06+1.24
CDN Dollar0.8027-0.0013
Gold1281.40-11.20
Oil47.03-0.28
Lumber316.00+4.50
Natural Gas2.881-0.105

 
Okanagan Companies
Pacific Safety0.14+0.025
Knighthawk0.010.00
QHR Technologies Inc1.37-0.01
Cantex0.035+0.005
Anavex Life Sciences0.18-0.001
Metalex Ventures0.035-0.005
Russel Metals24.49+0.01
Copper Mountain Mining1.09-0.01
Colorado Resources0.135-0.02
ReliaBrand Inc0.006+0.001
Sunrise Resources Ltd0.055+0.03
Mission Ready Services0.25+0.03

 



24910

FEATURED Property
2104458316-547 Yates Road
1 bedrooms 1 baths
$179,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...


Ailing Parents: Tax Issues

If your parent has become ill, there can be several tax issues that come into play depending on the nature of their illness, their age and the role that family members are playing. For example, if you...


What do I pay ICBC for anyway?

If you have had ongoing dealings with ICBC as a result of a car accident than you have likely had the pleasure of dealing with at least two sides of ICBC. Initially the relationship starts off pleasan...

_








Member of BC Press Council


24975