10.6 C
Fort St. John
Monday, October 22, 2018
Tel: 250-787-7100
Email: contact@energeticcity.ca
9924 101 ave Fort St. John, B.C.
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US oil prices top $70 a barrel for the first time since 2014

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DALLAS, TX –  U.S. oil prices crashed through the $70-a-barrel mark for the first time since late 2014, foreshadowing costlier gasoline and consumer goods.

It’s not clear that pricey crude will slow down the economy, however. The stock market moved higher in midday trading Monday, as investors bet that companies and consumers can cope with the increase.

Benchmark U.S. crude is up 74 cents, more than 1 percent, to $70.46 a barrel on the futures market in New York. The international standard, Brent crude, is up again, to nearly $76.

Analysts are citing concern that Iranian oil exports will fall if the U.S. withdraws from a 2015 deal that eased sanctions on Iran in exchange for limits on its nuclear program. And U.S. stockpiles of crude are down.

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(THE CANADIAN PRESS)

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Local Events

Doc Walker to play the Lido Theatre

HYPNOTIST: RAY ANDERSON

Jokes N Tokes Comedy Tour

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