Saturday, August 1st25.4°C
27107
26096

Crude oil falls below $103 a barrel on expectation of increase in US supply

The price of oil fell below US$103 barrel Wednesday as traders expected the Energy Department to report an increase in U.S. supplies.

Benchmark West Texas Intermediate crude for July delivery dropped $1.39 to close at US$102.72 a barrel on the New York Mercantile Exchange.

Brent crude, a benchmark for international oils, fell 21 cents to US$109.81 on the ICE exchange in London.

Traders were waiting for the latest information on U.S. supplies of crude and refined products.

Data for the week ended May 23 is expected to show an increase of one million barrels in crude oil stocks and a decline of 200,000 barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

In other energy futures trading on the Nymex, wholesale gasoline rose one cent to US$3.01 a U.S. gallon (3.79 litres), heating oil fell one cent to US$2.93 a gallon and natural gas added 11 cents to US$4.62 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




Recent Trending




Today's Market
S&P TSX14468.44+85.68
S&P CDNX594.31+6.01
DJIA17689.86-56.12
Nasdaq5128.28-0.50
S&P 5002103.84-4.79
CDN Dollar0.7640-0.0052
Gold1096.90+0.60
Oil47.22-1.69
Lumber252.30+0.50
Natural Gas2.883+0.062

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.42+0.00
Cantex0.035-0.005
Anavex Life Sciences0.9101+0.1101
Metalex Ventures0.05+0.00
Russel Metals19.40-0.05
Copper Mountain Mining0.79+0.01
Colorado Resources0.065+0.005
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.095-0.045
Decisive Dividend Corp2.55+0.05

 





FEATURED Property
2368763406-1450 Bertram Street
2 bedrooms 2 baths
$180,000
more details
Click here to feature your property
Please wait... loading


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...


Income from home equity

Photo: Thinkstock.comWhen retirement funds run low, seniors often ask if tapping into the equity in their home is the right way to retain financial independence. To see if this option might be a good ...

_



26376

26376


Member of BC Press Council


27074