The Canadian Press - ONLINE EDITION

Oil flat ahead of the release of U.S. employment data

  • Print

BANGKOK - Oil prices were barely changed Friday ahead of the release of employment figures that traders hope will shed light on the state of the U.S. economy.

Benchmark oil for May delivery was down 5 cents to US$93.21 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell $1.19 to finish at $93.26 on Thursday after U.S. data showed an increase in the number of people seeking jobless benefits.

That raised the possibility of reduced energy demand as fewer people travelling to work would lower demand for gasoline.

Traders are now awaiting a key employment report for March that the Labor Department will release later Friday. The U.S. economy added a robust 236,000 jobs in February, and the unemployment rate fell to 7.7 per cent from 7.9 per cent.

The prospect of slowing demand comes on top of the burgeoning supply of oil in the U.S. and both are keeping a lid on oil prices.

On Wednesday, the Energy Department said crude oil inventories rose last week to the highest level since July 1990.

Brent crude, used to price many kinds of oil imported by U.S. refineries, rose 4 cents to $106.38 per barrel on the ICE Futures exchange in London.

In other energy futures trading on the Nymex:

— Heating oil rose 0.7 cent to $2.97 a gallon.

— Natural gas rose 0.2 cent to $3.949 per 1,000 cubic feet.

— Gasoline was steady at $2.899 a gallon.

(TSX:ECA, TSX:IMO, TSX:SU, TSX:HSE, NYSE:BP, NYSE:COP, NYSE:XOM, NYSE:CVX, TSX:CNQ, TSX:TLM, TSX:COS.UN, TSX:CVE)

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Faron Hall honoured by Mayor Sam Katz - May 6, 2009

View more like this

Photo Store Gallery

  • A Canada goose protects her nest full of eggs Monday on campus at the University of Manitoba- Standup photo- Apr 30, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • Aerial view of Portage and Main, The Esplanade Riel, Provencher Bridge over the Red River, The Canadian Museum for Human Rights and The Forks near the Assiniboine River, October 21st, 2011. (TREVOR HAGAN/WINNIPEG FREE PRESS) CMHR

View More Gallery Photos

Poll

What do you think of the new Blue Bombers uniforms?

View Results

View Related Story

Ads by Google