Oil Close to $60/bbl
Posted by Jim Sparrow on Friday, May 8th, 2009 at 4:04pm.
NYMEX crude oil closed at the highest level since November following a job forecast report showing fewer US job cuts. Traders took this as a signal that the worst of the recession has passed and fuel demand may rebound.
Crude oil contracts (June delivery) closed out the week at $58.70 / bbl, a 10% rise from last week.
Natural gas futures also finished the week with strong gains, closing at $4.25 per million BTU, up $0.27 on the day.
Meanwhile the Toronto Stock Exchange's S&P/TSX composite index marked its highest close in more than six months on Friday, closing the day @ 10,238.0. Nine of ten sectors closed higher as the exchange closed up 7.8% on the week.
The TSX, while still off over 30% from the highs of 2008, is up over 36% from just a couple of months ago.
Jim Sparrow sells Calgary Real Estate with Royal LePage Calgary & specializes in South Calgary estate and luxury homes. Visit our website Calgary Luxury Real Estate our blog Calgary Real Estate Blog or page me directly at Royal LePage Solutions 403.252.5900
Related Links
Blog Tags
2 Responses to "Oil Close to $60/bbl"
@Kent - it's already started. Noticed the price of gasoline rose 10˘ / liter Wednesday nite under the cover of darkness
Posted on Friday, May 8th, 2009 at 10:04 PM.
Leave a Comment
My Account
Log in, to view your saved searches and add to your favorite listings.
... So You Can:
- View detailed property information
- Print detailed property flyers
- Save your searches & favorite homes
- Inquire about a private showing
- Map individual property locations
- Share your favorite homes with friends



Print
Share
About time. Watch oil - gas prices rise as summer driving season starts
Posted on Friday, May 8th, 2009 at 8:37 PM.