Dominion Lending Centres Clearlease Reports Crude oil prices fall near US$109 a barrel on supply increase, weak demand

Dominion Lending Centres Clearlease Reports Crude oil prices fall near US$109 a barrel on supply increase, weak demand

VANCOUVER, BRITISH COLUMBIA – (May 4, 2011) Clearlease Reports Oil dropped below US$110 a barrel Wednesday after a U.S. government report showed that supplies of petroleum products are growing as demand weakens in the United States.

Industry reports on the job market and the service sector also raised concerns about the health of the U.S. economy.

Benchmark crude for June delivery lost $1.81 to settle at US$109.24 a barrel on the New York Mercantile Exchange. In London, Brent gave up $1.26 to settle at US$121.19 on the ICE Futures exchange.

Prices fell shortly after the U.S. Energy Information Administration said that oil supplies increased by 3.4 million barrels last week — twice as much as energy analysts expected. The government also reported that gasoline demand averaged 9.1 million barrels per day, down almost two per cent from a year ago.

Crude has been climbing over the last few months as unrest in North Africa and the Middle East raised concerns about oil supplies and a weaker U.S. dollar made crude cheaper for investors holding other currencies.

Still, economists warned that higher energy prices were taking a toll on the economy, and recent government and industry surveys suggest that American drivers have been buying less fuel.

In its weekly report, MasterCard SpendingPulse said the four-week average of gasoline purchases in the U.S. dropped for the sixth consecutive week, compared with a year ago. EIA said the four-week average of wholesale gasoline demand also dropped for the sixth straight week.

So far the drop in consumption hasn’t kept pump prices from rising, however.

Lackluster economic news also helped push oil prices down Wednesday. The Institute for Supply Management said its service sector index rose at the slowest pace in eight months in April, as many companies expressed concerns about higher food and gas prices.

Private payroll processor ADP also raised worries about the health of the jobs market when it reported that 179,000 new private sector jobs were added in April, far fewer than economists expected.

In other Nymex trading for June contracts, heating oil lost 4.78 cents to settle at US$3.143 a US gallon (3.78 litres) and gasoline futures fell less than a penny to settle at US$3.3225 a gallon. Natural gas gave up 9.4 cents to settle at US$4.644 per 1,000 cubic feet (28.32 cubic metres).

(TSX:ECA), (TSX:IMO), (TSX:SU), (TSX:HSE), (NYSE:BP), (NYSE:COP), (NYSE:XOM), (NYSE:CVX), (TSX:CNQ), (TSX:TLM), (TSX:COS.UN), (TSX:CVE)

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports Crude oil prices fall near US$109 a barrel on supply increase, weak demand

VANCOUVER, BRITISH COLUMBIA – (May 4, 2011) Clearlease Reports Oil dropped below US$110 a barrel Wednesday after a U.S. government report showed that supplies of petroleum products are growing as demand weakens in the United States.

Industry reports on the job market and the service sector also raised concerns about the health of the U.S. economy.

Benchmark crude for June delivery lost $1.81 to settle at US$109.24 a barrel on the New York Mercantile Exchange. In London, Brent gave up $1.26 to settle at US$121.19 on the ICE Futures exchange.

Prices fell shortly after the U.S. Energy Information Administration said that oil supplies increased by 3.4 million barrels last week — twice as much as energy analysts expected. The government also reported that gasoline demand averaged 9.1 million barrels per day, down almost two per cent from a year ago.

Crude has been climbing over the last few months as unrest in North Africa and the Middle East raised concerns about oil supplies and a weaker U.S. dollar made crude cheaper for investors holding other currencies.

Still, economists warned that higher energy prices were taking a toll on the economy, and recent government and industry surveys suggest that American drivers have been buying less fuel.

In its weekly report, MasterCard SpendingPulse said the four-week average of gasoline purchases in the U.S. dropped for the sixth consecutive week, compared with a year ago. EIA said the four-week average of wholesale gasoline demand also dropped for the sixth straight week.

So far the drop in consumption hasn’t kept pump prices from rising, however.

Lackluster economic news also helped push oil prices down Wednesday. The Institute for Supply Management said its service sector index rose at the slowest pace in eight months in April, as many companies expressed concerns about higher food and gas prices.

Private payroll processor ADP also raised worries about the health of the jobs market when it reported that 179,000 new private sector jobs were added in April, far fewer than economists expected.

In other Nymex trading for June contracts, heating oil lost 4.78 cents to settle at US$3.143 a US gallon (3.78 litres) and gasoline futures fell less than a penny to settle at US$3.3225 a gallon. Natural gas gave up 9.4 cents to settle at US$4.644 per 1,000 cubic feet (28.32 cubic metres).

(TSX:ECA), (TSX:IMO), (TSX:SU), (TSX:HSE), (NYSE:BP), (NYSE:COP), (NYSE:XOM), (NYSE:CVX), (TSX:CNQ), (TSX:TLM), (TSX:COS.UN), (TSX:CVE)

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports Crude oil prices fall near US$109 a barrel on supply increase, weak demand

VANCOUVER, BRITISH COLUMBIA – (May 4, 2011) Clearlease Reports Oil dropped below US$110 a barrel Wednesday after a U.S. government report showed that supplies of petroleum products are growing as demand weakens in the United States.

Industry reports on the job market and the service sector also raised concerns about the health of the U.S. economy.

Benchmark crude for June delivery lost $1.81 to settle at US$109.24 a barrel on the New York Mercantile Exchange. In London, Brent gave up $1.26 to settle at US$121.19 on the ICE Futures exchange.

Prices fell shortly after the U.S. Energy Information Administration said that oil supplies increased by 3.4 million barrels last week — twice as much as energy analysts expected. The government also reported that gasoline demand averaged 9.1 million barrels per day, down almost two per cent from a year ago.

Crude has been climbing over the last few months as unrest in North Africa and the Middle East raised concerns about oil supplies and a weaker U.S. dollar made crude cheaper for investors holding other currencies.

Still, economists warned that higher energy prices were taking a toll on the economy, and recent government and industry surveys suggest that American drivers have been buying less fuel.

In its weekly report, MasterCard SpendingPulse said the four-week average of gasoline purchases in the U.S. dropped for the sixth consecutive week, compared with a year ago. EIA said the four-week average of wholesale gasoline demand also dropped for the sixth straight week.

So far the drop in consumption hasn’t kept pump prices from rising, however.

Lackluster economic news also helped push oil prices down Wednesday. The Institute for Supply Management said its service sector index rose at the slowest pace in eight months in April, as many companies expressed concerns about higher food and gas prices.

Private payroll processor ADP also raised worries about the health of the jobs market when it reported that 179,000 new private sector jobs were added in April, far fewer than economists expected.

In other Nymex trading for June contracts, heating oil lost 4.78 cents to settle at US$3.143 a US gallon (3.78 litres) and gasoline futures fell less than a penny to settle at US$3.3225 a gallon. Natural gas gave up 9.4 cents to settle at US$4.644 per 1,000 cubic feet (28.32 cubic metres).

(TSX:ECA), (TSX:IMO), (TSX:SU), (TSX:HSE), (NYSE:BP), (NYSE:COP), (NYSE:XOM), (NYSE:CVX), (TSX:CNQ), (TSX:TLM), (TSX:COS.UN), (TSX:CVE)

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk



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