Thursday, October 30th9.5°C
23696
23778

Oil above US$103 a barrel as U.S. supplies fall much more than expected

The price of oil rose Wednesday as the U.S. government reported that American supplies fell more than expected last week.

Benchmark West Texas Intermediate crude for September delivery gained 73 cents to US$103.12 a barrel on the New York Mercantile Exchange. Brent crude for September delivery, a benchmark for international oils, rose 70 cents to US$108.03 on the ICE Futures exchange in London.

The Energy Department reported that U.S. oil supplies fell by four million barrels last week, a sharper decline than the 2.6 million barrels that had been expected by analysts surveyed by Platts, the energy information arm of McGraw-Hill Financial.

On the geopolitical front, U.S. Secretary of State John Kerry arrived in Tel Aviv, seeking to renew a push for a ceasefire after an earlier proposal by Egypt was rejected. Israeli troops battled Hamas militants near a southern Gaza Strip town even as Kerry reported some progress in his efforts.

In other Nymex trading, wholesale gasoline fell two cents to US$2.86 a U.S. gallon (3.79 litres), heating oil rose two cents to US$2.875 a gallon and natural gas fell one cent to US$3.76 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 TSX14490.75-36.82
S&P CDNX770.86-10.21
DJIA17171.40197.09
Nasdaq4555.298+6.072
S&P 5001990.50+8.20
CDN Dollar0.8940-0.0001
Gold1201.50-23.40
Oil81.06-0.90
Lumber324.50+2.90
Natural Gas3.715+0.066

 
Okanagan Companies
Pacific Safety0.115+0.015
Knighthawk0.01-0.005
QHR Technologies Inc1.12-0.03
Cantex0.045-0.015
Anavex Life Sciences0.172-0.008
Metalex Ventures0.0350.00
Russel Metals32.29-0.28
Copper Mountain Mining2.020.00
Colorado Resources0.14+0.005
ReliaBrand Inc0.012-0.004
Sunrise Resources Ltd0.05+0.025
Mission Ready Services0.36-0.01

 



22970

FEATURED Property
21019914308 15 ave
3 bedrooms 2 baths
$342,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Empty nesting: financial issues

Now that the children have ‘left the nest’, it is a good time to step back and take stock of your financial situation. Being on your own will probably cut household costs to some extent, b...


Keep your haunted home safe

Eerie sounds, spooky lights and Jack-o’-lanterns aglow—extra efforts at Halloween will keep visitors coming back for both tricks and treats. However, to keep the fun going, it’s imp...


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...

_








Member of BC Press Council


22771