Friday, September 19th17.5°C
19716
22754

Crude oil above US$100 a barrel as traders look beyond big supply increase

NEW YORK, N.Y. - The price of oil rose above US$100 a barrel Wednesday as the market looked beyond a large increase in oil supplies.

Benchmark West Texas Intermediate crude for May delivery gained $1.07 to close at US$100.26 a barrel on the New York Mercantile Exchange.

Brent crude, a contract for international varieties of oil, added four cents to US$107.03 on the ICE Futures exchange in London.

A report from the Energy Department for the week ended March 21 showed crude oil supplies rose by 6.3 million barrels, more than double the gain of 2.6 million barrels expected by analysts, according to Platts.

However, supplies at the oil hub in Cushing, Okla., where benchmark U.S. oil is priced, fell by 1.3 million barrels. And gasoline supplies dropped by 5.1 million barrels, a much bigger drop than analysts anticipated.

In other energy futures trading on Nymex, wholesale gasoline gained three cents to US$2.91 a U.S. gallon (3.79 litres), heating oil was flat at US$2.92 a gallon and natural gas fell one cent to US$4.40 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

21097


Recent Trending




Today's Market
S&P TSX15465.54+6.66
S&P CDNX965.79-6.72
DJIA17265.99109.14
Nasdaq4593.426+31.237
S&P 5002011.36+9.79
CDN Dollar0.9121-0.0022
Gold1222.90-4.00
Oil92.87-0.20
Lumber349.00+1.00
Natural Gas3.963-0.012

 
Okanagan Companies
Pacific Safety0.16-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.32+0.07
Cantex0.060.00
Anavex Life Sciences0.2261-0.01
Metalex Ventures0.060.00
Russel Metals37.01+0.64
Copper Mountain Mining2.68-0.05
Colorado Resources0.175+0.005
ReliaBrand Inc0.024-0.003
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.30+0.01

 



22967

FEATURED Property
2025508Lot 3 Scroggins Bay
10085792 bedrooms
$395,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


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...


Power-save your way to a down payment

Part 1 of 2 Photo: Thinkstock.com1. Move in with your parents or in-laws Explain that you're thinking strategically in moving back home. The quickest way to get into the housing market is to ma...


Price Guarantees

Article written by Linda Bustos Though I’d never recommend “lowest prices” as a unique selling proposition, I notice many retailers use a Price Match Guarantee or even a 110% Guara...

_





23109


Member of BC Press Council


22755