Thursday, October 30th10.5°C
23696
23883

Crude oil price eases after rising to near $102 a barrel on Ukraine uncertainty

LONDON - The price of oil declined below US$101 per barrel after disappointing earnings in the U.S. on Friday, having earlier risen on worries about the tensions in Ukraine.

Benchmark U.S. crude for June delivery shed $1.07 to $100.87 on the New York Mercantile Exchange. Brent crude, an international benchmark for oil, gave up 27 cents to $110.06 on the ICE Futures exchange in London a day after gaining $1.22.

Ukraine is going through its biggest political crisis since the fall of the Soviet Union, sparked by months of anti-government protests and President Viktor Yanukovych's flight to Russia. Ukrainian forces launched an operation Thursday to drive pro-Russia insurgents out of occupied buildings in the country's turbulent east. In response, Russia responded by announcing military exercises near Ukraine's border.

Traders are worried that an escalation in the tensions could push the U.S. and European Union to sanction Russia's economic interests, which are dominated by energy trade. Those concerns had pushed oil prices up, before other news brought it back down.

Weak earnings from Ford and Amazon in particular helped dent sentiment. A drop in Ford sales in the U.S. suggested consumer spending on transportation and fuel in the world's largest economy might not remain as strong as expected.

In other energy futures trading in New York:

— Wholesale gasoline was down 0.9 cents at $3.04 a gallon.

— Heating oil fell 1.9 cents to $2.99 a gallon.

— Natural gas fell 5.4 cents to $4.65 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.UN, TSX:CVE)

The Canadian Press


Read more Business News

22970


Recent Trending




Today's Market
S&P TSX14458.69-68.88
S&P CDNX771.65-9.42
DJIA17195.42221.11
Nasdaq4566.138+16.912
S&P 5001994.65+12.35
CDN Dollar0.8935-0.0006
Gold1200.10+1.50
Oil80.65-0.25
Lumber322.40-1.20
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.11+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.150.00
Cantex0.045-0.015
Anavex Life Sciences0.1711-0.0089
Metalex Ventures0.0350.00
Russel Metals32.22-0.35
Copper Mountain Mining1.97-0.05
Colorado Resources0.14+0.005
ReliaBrand Inc0.012-0.004
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.375+0.005

 



23028

FEATURED Property
208334519 - 180 Sheerwater Court
4 bedrooms 7 baths
$9,300,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...

_








Member of BC Press Council


22771