Sunday, May 24th18.2°C
25936
26319

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

25985


Recent Trending




Today's Market
S&P TSX15200.76-2.85
S&P CDNX703.48+2.97
DJIA18232.02-53.72
Nasdaq5089.36-1.43
S&P 5002126.06-4.76
CDN Dollar0.8142-0.0053
Gold1204.30+1.30
Oil57.45-1.98
Lumber273.80+3.70
Natural Gas2.885-0.064

 
Okanagan Companies
Pacific Safety0.13-0.01
Knighthawk0.010.00
QHR Technologies Inc1.48+0.03
Cantex0.03-0.01
Anavex Life Sciences0.425+0.053
Metalex Ventures0.09+0.01
Russel Metals25.79-0.03
Copper Mountain Mining1.38-0.03
Colorado Resources0.105+0.005
ReliaBrand Inc0.0048-0.0049
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.175-0.010
Decisive Dividend Corporation2.20+0.60

 



26401

FEATURED Property
2298892Exceptional Custom Predator Ridge Home
$2,100,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Do or do not

Photo: Thinkstock.com“The optimist sees the rose and not its thorns; the pessimist stares at the thorns, oblivious of the rose.” - Kahlil Gibran Good planning is all about managing chan...


Penetrate the smokescreen

Photo: ContributedHas this ever happened to you? You’re in the middle of your second or third “good discussion” with a prospect. Everything’s going great. The prospect seems en...


Squaring the circle

Photo: Thinkstock.comI have been reading about market segmentation and choice. Howard Moskowitz’s research into tomato sauce as retold by Malcom Gladwell on the TED talks (http://www.ted.com/tal...

_



26363




Member of BC Press Council


25334