• Sign up for the Daily Digest E-mail
  • Facebook
  • X
  • LinkedIn

BOE Report

Sign up
  • Home
  • StackDX Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

Oil rises past $104 a barrel as Ukraine jiggers offset large rise in US crude supplies

April 17, 20141:26 PM The Canadian Press0 Comments

NEW YORK – The price of oil rose past US$104 per barrel Thursday on worries over the upheaval in Ukraine.

Benchmark West Texas Intermediate crude for May delivery rose 54 cents to close at US$104.30 a barrel in New York.

Supplies in the U.S. are ample — the Energy Department reported the biggest gain in stocks in 13 years on Wednesday. But that wasn’t enough to calm the fears of traders this week, who worry that Russia’s actions in response to the turmoil in Ukraine could be met with sanctions that disrupt exports of Russia’s oil and gas.

Despite indications of a possible diplomatic solution to the crisis in Ukraine Thursday, traders remained concerned that the situation could worsen over the coming long weekend and were reluctant to sell oil.

Oil markets are closed Friday.

Energy Analyst Jim Ritterbusch expects oil prices to quickly fall back next week if the Ukraine crisis does not worsen. “We still expect some downside rotation through the balance of this month,” he wrote in a note to investors.

Brent crude, an international benchmark used to price oil used by many U.S. refineries, was down seven cents to close at US$109.53 a barrel for June delivery in London.

The price of natural gas surged nearly five per cent Thursday after the U.S. Energy Department reported that U.S. storage levels rose less than analysts had expected. Natural gas for May delivery rose 21.1 cents to US$4.741 per 1,000 cubic feet.

In other energy futures trading on the Nymex, wholesale gasoline rose 1.4 cents to close at US$3.055 a U.S. gallon (3.79 litre) and heating oil fell 0.1 cent to close at US$3.001 a gallon.

Follow BOE Report
  • Facebook
  • X
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Discount on Western Canada Select widest since March
  • Blackstone to Invest More Than $25 Billion in Pennsylvania’s Digital and Energy Infrastructure, Plus Catalyze an Additional $60 Billion Investment
  • Peyto Exploration & Development Corp. Confirms Monthly Dividend for August 15, 2025
  • Whitecap Resources Inc. confirms monthly dividend for July of $0.0608 per share and announces second quarter 2025 results conference call / webcast
  • Nine Canadian First Nations launch constitutional challenge of major-projects legislation

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contact
    • Report Error
    BOE Network
    © 2025 Stack Technologies Ltd.