INQUIRER.net: New York oil soars after Canadian pipelines shut

INQUIRER.net Philippine News for Filipinos

New York oil soars after Canadian pipelines shut Jun 25th 2013, 01:25 NEW YORK—New York oil prices sharply rebounded Monday after a leak forced the closure of Canadian pipelines, raising concerns about supply disruptions in North America. New York's main contract, West Texas Intermediate (WTI) light sweet crude for August, closed at $95.18 a barrel, up a hefty $1.49 from Friday. European benchmark Brent eked out a small gain amid concerns about China's slowing economy and credit crunch, which cast a cloud over financial markets. Brent North Sea crude for delivery in August clawed back loses to end 25 cents higher at $101.16 a barrel in London trade. The New York WTI contract had opened lower but rebounded as investors worried about Canadi... Keep on reading: New York oil soars after Canadian pipelines shut Media files: gas-station_US.jpg (image/jpeg)

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