The price of oil fell Thursday as fears diminished somewhat over supply disruptions from Iraq.Benchmark West Texas Intermedate crude for August delivery slipped 66 cents to US$105.85 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, eased 79 cents to US$113.21 a barrel in London.While concerns linger about violence in Iraq affecting global crude supplies, oil production and exports from the giant fields clustered in the country's south remain [Read more]

The price of crude oil rose Wednesday as news that the U.S. government is selectively allowing exports of certain light oils offset an unexpected increase in U.S. domestic supplies.Benchmark West Texas Intermediate crude for August delivery rose 47 cents to US$106.50 a barrel on the New York Mercantile Exchange. Brent crude, used to price international oils, dropped 46 cents to US$114 a barrel in London.In other energy futures trading on the Nymex, wholesale gasoline fell three cents to US$3.09 [Read more]

EDMONTON - Information gleaned from satellite images shows that forests on the slopes of Alberta's Rocky Mountains have taken the brunt of industrial development.A report from Global Forest Watch shows that the eastern slopes, not the oilsands area, have suffered the highest rate of forest loss over the last 12 years.Almost seven per cent of those forests disappeared between 2000 and 2013 — more than double the average rate of forest loss across Canada.Report author Peter Lee says energy and [Read more]

The price of oil was steady Tuesday as investors monitored the insurgency in Iraq for any signs it could affect its oil production and exports. Islamic militants have been steadily expanding their grip on the country's north, where they control a broad swath of territory. But the bulk of the country's production and export operations are in the south, which have so far been spared in this month's advance by the al-Qaeda-inspired group. Iraq's daily oil production hit 3.5 million barrels [Read more]

CALGARY - Economists see more good than bad for Canada's economy as recent tensions in Iraq drive up global crude oil prices. Scotiabank commodity market specialist Patricia Mohr says the increase has a "two-pronged impact," but the benefits should outweigh the drawbacks. "Of course on the positive side, it really bolsters earnings for Western Canada's oil industry, but also the oil industry in Newfoundland and Labrador," she said. That, in turn, brings more tax and royalty revenues to [Read more]

The price of oil fell Tuesday as fears receded that the insurgency roiling Iraq would affect its oil production and exports. Islamic militants have been steadily expanding their grip on the country's north, where they control a broad swath of territory. But the bulk of the country's production and export operations are in the south, which have so far been spared in this month's advance by the al-Qaeda inspired group. Iraq's daily oil production hit 3.5 million barrels this year, up from [Read more]