Monday, October 5th7.8°C

Crude oil rises to near US$102 a barrel on Ukraine uncertainty

The price of oil rose to near US$102 a barrel Thursday on worries about tensions in Ukraine.

Benchmark West Texas Intermediate crude for June delivery rose 50 cents to close at US$101.94 a barrel on the New York Mercantile Exchange. Brent crude, an international benchmark, gained $1.22 to US$110.33 a barrel on the ICE Futures exchange in London.

Ukraine is going through its biggest political crisis since the fall of the Soviet Union. Ukrainian forces launched an operation Thursday to drive pro-Russia insurgents out of occupied buildings in the country's tumultuous east. In response, Russia's defence minister announced new military exercises for troops massed near Ukraine's border.

Gains for U.S. crude oil were limited because of bulging oil supplies.

The U.S. Energy Department's Energy Information Administration said Wednesday that oil supplies rose 3.5 million barrels in the week that ended April 18. That exceeded the expectations of analysts surveyed by Platts, who forecast an increase of 3.1 million barrels. At a record 397.7 million barrels, supplies are now 2.3 per cent above year-earlier levels.

In other energy futures trading in New York, wholesale gasoline was flat at US$3.09 a U.S. gallon (3.79 litres), heating oil rose three cents to US$3.01 a gallon and natural gas fell 2.5 cents to US$4.705 per 1,000 cubic feet.


The Canadian Press

Read more Business News


Recent Trending

Today's Market
S&P TSX13552.20+212.46
S&P CDNX529.91+4.35
S&P 5001987.05+35.69
CDN Dollar0.7647+0.0003
Natural Gas2.464+0.014

Okanagan Companies
Pacific Safety0.215+0.000
QHR Technologies Inc1.22+0.03
Metalex Ventures0.06+0.00
Russel Metals22.51+1.03
Copper Mountain Mining0.50+0.08
Colorado Resources0.07-0.01
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.095+0.005
Decisive Dividend Corp3.49+0.00
Diamcor Mining0.90+0.02



more details
Click here to feature your property
Please wait... loading

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

Living beyond 100

Photo: ContributedThere was a time most careers involved an apprenticeship of one sort another. Some official, others involving years of servitude, and others time simply spent watching and emulating ...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council