The Canadian Press - ONLINE EDITION

Oil rebounds as Ukraine crisis deepens and more sanctions loom

  • Print

The price of oil rebounded above US$101 per barrel Monday as mounting tensions in Ukraine raised the likelihood of further western economic sanctions against major energy producer Russia.

Benchmark U.S. crude for June delivery gained 42 cents to $101.02 on the New York Mercantile Exchange. Oil had finished last week with a decline of $3.70 a barrel, or 3.5 per cent, to $100.60.

Brent crude, an international benchmark for oil, rose 23 cents to $109.81 on the ICE Futures exchange in London.

The Group of Seven industrial nations and other European governments were preparing fresh sanctions against Russia for failing to comply with an agreement reached in Geneva on defusing the crisis in Ukraine. The crisis escalated as pro-Moscow insurgents in the east began taking hostages, including reporters and pro-Ukraine activists.

In other energy futures trading in New York:

— Wholesale gasoline edged higher to $3.04 a gallon.

— Heating oil was unchanged at $2.99 a gallon.

— Natural gas steady at $4.65 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.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

Winnipeg Cheapskate: Cheap summer weekends

View more like this

Photo Store Gallery

  • A Great Horned Owl that was caught up in some soccer nets in Shamrock Park in Southdale on November 16th was rehabilitated and returned to the the city park behind Shamrock School and released this afternoon. Sequence of the release. December 4, 2012  BORIS MINKEVICH / WINNIPEG FREE PRESS
  • A water lily in full bloom is reflected in the pond at the Leo Mol Sculpture Garden Tuesday afternoon. Standup photo. Sept 11,  2012 (Ruth Bonneville/Winnipeg Free Press)

View More Gallery Photos

Poll

Should political leaders be highly visible on the frontlines of flood fights and other natural disasters?

View Results

View Related Story

Ads by Google