Crude oil inches down but remains near one-month high of US$104 a barrel
The price of oil drifted lower Thursday, a day after hitting a one-month high.
Benchmark West Texas Intermediate crude for July delivery fell 33 cents to close at US$103.74 a barrel on the New York Mercantile Exchange. On Wednesday, oil gained $1.74 to close at US$104.07.
Brent crude, a benchmark for international oils, slipped 19 cents to US$110.36 on the ICE Futures exchange in London.
The U.S. oil price shot up Wednesday after a report from the Energy Information Administration showed that U.S. crude oil supplies dropped 7.2 million barrels in the week ended May 16. The drop was bigger than analysts expected and due mostly to lower crude imports.
In other energy future trading on the Nymex, wholesale gasoline gained one cent to US$3.01 a U.S. gallon (3.79 litres), heating oil was flat at US$2.95 a gallon and natural gas dropped 11 cents to US$4.44 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)
Read more Business News
- Dream wedding for dying manVernon / N. Okanagan - 7:23 am
- Puppy attacked at parkKelowna - 11:34 am
- Terrorist acts in the 1950sPenticton / S. Okanagan - 5:00 am
- Alaska wants say in BCBC - 1:14 pm
|QHR Technologies Inc||1.20||-0.01|
|Anavex Life Sciences||0.265||+0.005|
|Copper Mountain Mining||2.99||+0.11|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.26||+0.045|
Photo: ContributedI would call it a joy ride... You see a planned project or business has a destination. It may be an ongoing revenue stream, it may be a business value or an exit strategy. If you don...
Establishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of &ls...
Let’s face it; nobody wants to pay for legal services if they do not have to, but if you have been injured in an accident you may have thought about hiring a lawyer to help you navigate your cla...