Saturday, October 25th8.6°C
23888
22501

Oil rises above US$104 a barrel for 1st time since July 3; natural gas falls

The price of oil rose more than a $1 for the third time in the last four trading days, closing above $104 on Monday for the first time since July 3.

Benchmark West Texas Intermediate crude for August delivery rose $1.46 to US$104.59 a barrel on the New York Mercantile Exchange. On Friday, the Nymex contract fell six cents to $103.13. Oil has gained 4.6 per cent over the past four trading sessions.

Brent crude for September delivery, a benchmark for international oils, gained 44 cents to US$107.68 on the ICE exchange in London.

Meanwhile, natural gas prices sank further below $4 on forecasts for cooler temperatures in parts of the United States.

Natural gas supplies haven't been dropping as quickly as usual this summer as milder temperatures compared with last year reduce the need for homeowners to run the air conditioning full tilt.

Natural gas fell 10 cents to US$3.85 per 1,000 cubic feet on the Nymex.

In other Nymex trading, wholesale gasoline rose three cents to US$2.89 a U.S. gallon (3.79 litres) and heating oil gained one cent to US$2.86 a gallon.

(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 TSX14543.82+56.99
S&P CDNX805.45-3.15
DJIA16805.41127.51
Nasdaq4483.715+30.923
S&P 5001964.58+13.76
CDN Dollar0.8901-0.0003
Gold1231.20+2.10
Oil81.02-0.73
Lumber336.40+6.80
Natural Gas3.631+0.009

 
Okanagan Companies
Pacific Safety0.105-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.07+0.015
Anavex Life Sciences0.194-0.004
Metalex Ventures0.045+0.005
Russel Metals33.39+0.23
Copper Mountain Mining2.03-0.05
Colorado Resources0.145+0.005
ReliaBrand Inc0.012-0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.445+0.035

 





FEATURED Property
2107501Brand New West Coast Modern style home in Lower Mission
$939,000
more details
Click here to feature your property
Please wait... loading


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...


We can get on together

I was in LA this week. I witnessed such crazy and unusual circumstances as I strolled along Hollywood Blvd and Sunset Blvd. A far cry from sleepy Peachland in the Okanagan! The strange thing was, I f...


Weakening global growth worries

The Big Picture Growth worries persist Worries about weakening global growth and its potential impact on the US economic recovery roiled markets around the globe this week. Europe continues to be the ...

_








Member of BC Press Council


22632