Connect to share and comment

Oil steady above $101 a barrel as markets eye US-Russia talks, Chinese manufacturing report

The price of oil was little changed above $101 a barrel Monday as markets kept on eye on talks between the U.S. and Russia over the crisis in Ukraine. By early afternoon in Europe, benchmark U.S. crude for May delivery was down 20 cents to $101.47 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the Nymex contract rose 39 cents leaving it 2 per cent higher on the week, propelled by signs of stronger economic growth in the U.S. and global supply concerns.

Crude oil ends week with 2.2% gain on improving U.S. economy, supply concerns

The price of oil rose slightly Friday, finishing the week just over two per cent higher amid signs of stronger economic growth in the United States and global supply concerns. Benchmark West Texas Intermedite crude for May delivery gained 39 cents to close at US$101.67 a barrel on the New York Mercantile Exchange. For the week, oil rose 2.2 per cent.

Crude above $101 a barrel on higher than expected US GDP; supply worries

The price of oil advanced past US$101 a barrel Thursday following an upward revision to U.S. growth figures and ongoing concerns about tight supplies. Benchmark West Texas Intermediate crude for May delivery rose $1.02 to close at US$101.28 on the New York Mercantile Exchange. That is the highest closing price in three weeks. On Wednesday, oil jumped $1.07 to close at US$100.26. Brent crude, a contract for international varieties of oil, gained 80 cents to US$107.83 on the ICE Futures exchange in London.

Oil prices extend gains

Oil prices rose solidly on Thursday for a second day running on robust US economic data and supply disruptions in Africa's main crude producing nations, analysts said. New York's main contract, West Texas Intermediate (WTI) for delivery in May, gained 86 cents to $101.12 a barrel. Brent North Sea crude for May grew 54 cents to stand at $107.57 a barrel in London afternoon deals compared with Wednesday's close. The US economy grew 2.6 percent in the fourth quarter of last year, expanding by more than previously thought, the government said on Thursday.

Oil prices rise in Asia after strong US data

Oil prices edged higher in Asian trade Thursday on robust US consumer data and concerns over supply disruptions in Libya and Nigeria, analysts said. New York's main contract, West Texas Intermediate (WTI) for May delivery, gained 12 cents to $100.38 a barrel in afternoon trade, after surging $1.07 on Wednesday. Brent North Sea crude for May gained two cents to $107.05.

Oil prices mixed in Asia after strong US data

Oil prices were mixed in Asian trade Thursday, taking a breather after surging on strong US economic data, analysts said. New York's main contract, West Texas Intermediate (WTI) for May delivery, gained 10 cents to $100.34 a barrel in late morning trade, following a $1.07 jump Wednesday. Brent North Sea crude for May eased 11 cents to $106.95. "Crude made a huge move overnight rise due to the renewed strength in the US economy on better-than-expected durable goods numbers," Kelly Teoh, managing director at I.R. Resources in Singapore, told AFP.

Suncor loses another round in push to test oilsands workers for alcohol, drugs

FORT MCMURRAY, Alta. - Oilsands giant Suncor Energy has lost another battle in its attempt to randomly test thousands of union workers in northern Alberta for drugs and alcohol. A court-ordered arbitration panel has sided with the union Unifor that represents 3,600 workers in the Fort McMurray area and which had filed a grievance against the policy. The majority of panel members ruled there is no evidence that there is an out-of-control drinking or drug culture at Suncor (TSX:SU).

GoldenKey delays application to drill wells in Alberta city until policy set

LETHBRIDGE, Alta. - An oil company says it is putting off its application to the Alberta Energy regulator to drill three exploratory wells in a southern Alberta city. GoldenKey Oil says it is waiting for the Alberta government to release its new policy on urban drilling before it applies for approval to drill the wells in west Lethbridge. The company has applied for an extension on its mineral rights lease, which expired on Monday.

Crude oil above US$100 a barrel as traders look beyond big supply increase

NEW YORK, N.Y. - The price of oil rose above US$100 a barrel Wednesday as the market looked beyond a large increase in oil supplies. Benchmark West Texas Intermediate crude for May delivery gained $1.07 to close at US$100.26 a barrel on the New York Mercantile Exchange. Brent crude, a contract for international varieties of oil, added four cents to US$107.03 on the ICE Futures exchange in London.

US oil prices rise on tightening supply at key hub

Oil prices in New York jumped Wednesday after data showed a fall in crude supplies at a key US trading hub and a surprisingly large decline in gasoline stocks. US benchmark West Texas Intermediate for May delivery rose $1.07 to $100.26 a barrel on the New York Mercantile Exchange. European benchmark Brent oil for May delivery added four cents to $107.03 a barrel on the Intercontinental Exchange in London.
Syndicate content