Wednesday, May 27th9.9°C
26383

Crude prices drop as markets await impact of insurgency on Iraq's oil output

The price of oil fell Monday as traders waited to see if an insurgency in Iraq would affect the country's oil production and exports.

In a blitz through Iraq's western desert over the weekend, insurgents captured four towns and three border crossings on the country's frontiers with Jordan and Syria, greatly expanding territory under their control in the country's north.

The bulk of Iraq's oil production and export operations are in the south.

Benchmark West Texas Intermediate crude for August delivery dropped 66 cents to US$106.17 a barrel on the New York Mercantile Exchange.

Brent crude, used to price international oils, fell 69 cents to US$114.12 a barrel in London.

In other energy futures trading on the Nymex: wholesale gasoline slipped two cents to US$3.11 a U.S. gallon (3.79 litres), heating oil fell two cents to US$3.03 a gallon and natural gas dropped nine cents to US$4.45 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

26471


Recent Trending




Today's Market
S&P TSX15050.81-136.59
S&P CDNX691.96-8.09
DJIA18041.54-190.48
Nasdaq5032.75-56.61
S&P 5002104.20-21.86
CDN Dollar0.8036-0.0006
Gold1187.40-16.90
Oil59.67+0.66
Lumber273.50-2.70
Natural Gas2.832+0.010

 
Okanagan Companies
Pacific Safety0.135-0.005
Knighthawk0.010.00
QHR Technologies Inc1.51+0.02
Cantex0.03-0.01
Anavex Life Sciences0.432+0.007
Metalex Ventures0.085+0.005
Russel Metals25.21-0.62
Copper Mountain Mining1.28-0.05
Colorado Resources0.105+0.005
ReliaBrand Inc0.008+0.003
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.15-0.02
Decisive Dividend Corporation1.96-0.24

 



26361

FEATURED Property
2283122#1 - 218 Glen Park Drive
4 bedrooms 3 baths
$549,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...


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...

_



25991




Member of BC Press Council


24843