Monday, October 20th12.9°C
23836
23719

Crude oil rises to almost US$102 a barrel on anticipation of U.S. supply drop

The price of oil rose Tuesday as traders anticipated a report showing another decline in U.S. supplies.

Benchmark West Texas Intermediate crude for June delivery gained $1.11 to US$101.70 a barrel on the New York Mercantile Exchange, the highest close since April 24.

Brent crude rose 75 cents to US$108.54 a barrel on the ICE exchange in London.

On Wednesday, the Energy Department is expected to report that U.S. crude oil supplies fell last week by 1.5 million barrels, according to a survey of analysts by Platts. It would be the second weekly decline since the U.S. supply of oil reached a record 399.4 million barrels as of April 25.

In other energy futures trading on the Nymex, wholesale gasoline gained two cents to US$2.93 a U.S. gallon (3.79 litres), heating oil added three cents to US$2.94 a gallon and natural gas fell eight cents to US$4.36 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

22890


Recent Trending




Today's Market
S&P TSX14337.77+110.09
S&P CDNX811.351.22
DJIA16399.6719.26
Nasdaq4316.075+57.637
S&P 5001904.01+17.25
CDN Dollar0.8855-0.0004
Gold1246.50+1.80
Oil81.30-0.08
Lumber330.30-0.60
Natural Gas3.659-0.011

 
Okanagan Companies
Pacific Safety0.10-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.12+0.01
Cantex0.055-0.025
Anavex Life Sciences0.191+0.001
Metalex Ventures0.050.00
Russel Metals32.28-0.07
Copper Mountain Mining1.99+0.05
Colorado Resources0.15+0.005
ReliaBrand Inc0.0111-0.0019
Sunrise Resources Ltd0.060.00
Mission Ready Services0.450.00

 



22551

FEATURED Property
2086497590 HOLLYDELL Road
4 bedrooms 2 baths
$379,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...


Experts share strategies in Kelowna

The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...

_



23803




Member of BC Press Council


23121