The price of oil edged slightly lower from a five-week high today after China reported weak monthly trade data and U.S. crude supplies rose substantially last week.
By early afternoon in Europe, benchmark crude for May delivery was down 24 cents to $103.36 US in electronic trading on the New York Mercantile Exchange. Yesterday, the Nymex contract gained $1.04 to settle at $103.60 amid unrest in eastern Ukraine after adding more than $2 the day before. The last time it closed above $103 was on March 4.
Brent crude, a benchmark for international oil prices, was down 60 cents to $107.38 a barrel on the ICE Futures exchange in London.
Oil prices fell as Chinese trade numbers showed that exports contracted unexpectedly in March, shrinking by 6.6 percent from a year earlier while imports contracted 11.3 percent. Chinese imports of crude oil were also the lowest in five months, totaling 5.54 million barrels in March.
Crude prices also slipped following the report by the U.S. Energy Department’s Energy Information Administration that showed 4 million barrels were added to supplies last week. That compares to a rise of 2.5 million barrels predicted by analysts.
In other energy futures trading in New York:
— Wholesale gasoline lost 1.84 cents to $2.99 a gallon.
— Natural gas fell 2.9 cents to $4.557 per 1,000 cubic feet.
— Heating oil was down 0.89 cent at $2.9451 a gallon.
Police have identified the man accused of stabbing four employees at a North York office building, saying he was in the process of being fired when he attacked his superiors.
Police say Chuang “Ray” Li, 47, from Mississauga is now facing with three counts of attempted murder, four counts of aggravated assault and four counts of assault with a weapon.
A man and woman in their 30s were rushed to hospital with life-threatening injuries and remain in critical condition. Two other men were also injured in the attack. Police say one man has been released from hospital while the other will remained in hospital overnight for observation.
The two victims currently in critical condition were believed to be the attacker’s superiors and were in the process of firing him when they were stabbed.
Police say the two victims with less serious injuries allegedly tried to subdue the suspect during the attack.
Paul Kenyon, the man charged with the murder of Marion Deacon, took to a Newmarket witness stand yesterday to tell his version of events.
The 47-year-old said he had a rocky relationship with his then-girlfriend, was hooked on crack and lied to cover up that habit, but insisted he did not kill her.
Ms Deacon, a 46-year-old Whitchurch-Stouffville mother of three, died March 7, 2010 from blunt force trauma to the head and face.
Vaughan councillors are putting their marketing minds to work in an effort to convince YorkUniversity to build a satellite campus in the areas new downtown core, centred at Hwy. 7 and Jane Street.
And, although the city is facing stiff competition from some of its neighbouring municipalities, council says they’re pulling out all the stops to ensure Vaughan has a good chance of landing at the top of the class
If the new campus were to be built at the Vaughan Metropolitan Centre, it could capitalise on a substantial transit hub including the Spadina subway extension and the Viva rapid transit bus line, which would provide a direct link to York University’s main campus, a few kilometres south at Keele Street and Steeles Avenue.
For the first time in their history the Luminato Festival has partnered with an arts organization and will be headed north to Vaughan. The work of artist Terence Koh, will be featured at the McMichael Canadian Art Collection. For Tony Gagliano, Co-Founder and Chair of the festival, the decision to come to Vaughan was an easy one….
Trustees with the Toronto District School Board have voted against a motion to write a letter to city council asking them to enforce nudity laws at this year’s pride parade.
The school board has had a float in the parade since 1996 but some trustees said not enforcing the nudity laws puts into question the family friendliness of the event.
Several members of the board spoke out against the motion, saying it was not their job to police the police.
With our first taste of summer temperatures in the forecast for today, golfers everywhere are looking forward to getting into the swing of the season.
As harsh as the winter conditions actually were, in some ways, it may have been kinder toward the golf course industry than you would expect. Generally, Easter weekend is the target opening date, but most courses in the area are reporting that snow still covered parts of the fairways and frost has yet to come out of the ground locally. However the winter blanket kept an even covering over on the grounds, protecting the surface.
That said, this year the early birdie on the tee block may be feathered while duffers watch for the final thaw.
A 12-year Scarborough boy remains in serious condition after being hit by a car; the price od housing in York Region is on the rise and Harper turfs a Russian diplomat out of the country.
From the 105 – 9 The Region News Room, I’m Bob Pritchard.
A pre-teen remains in SickKids hospital with life-threatening injuries after being struck by a car in Scarborough yesterday on Danforth Road near St. Clair Avenue.
Witnesses say the boy got off a TTC bus and tried to cross the street when a silver Hyundai hit him.
Police say the distraught driver remained on scene. So far no charges have been laid.
Toronto Traffic Services has taken over the investigation.
Smouldering embers appear to be the cause of a fire in Brampton on the weekend that levelled a Ukrainian church.
Brampton fire officials have deemed the cause of the fire “accidental” and say foul play was not a factor.
Parish officials say they will rebuild St Elias the Prophet Church on Heritage Rd, just north of Bovaird Dr.
Warming weather is pushing a spring pickup in Canada’s residential real estate market, according to Royal LePag. They report that after a “remarkably drab winter” for real estate activity, the final month of the first quarter saw inventory increase noticeably as the industry saw what had been an underperforming spring market turn a corner in the final few weeks.
The company’s latest House Price Survey found that most regions showed healthy year-over-year price growth, with the average price of a home in Canada rising between 2.5 per cent and 5.4 per cent.
Prices here continued to rise in the first quarter thanks to “scarce” inventory. Detached bungalows rose 4.1 per and standard two-storey homes jumped 6.8 per cent, respectively. Standard condos rose 1.5 per cent to an average of $364,979.
Once again hope is running high after officials say that sounds similar to those emitted by aircraft’s black boxes have been detected in the southern Indian Ocean. If the pings can be better triangulated, a video equipped submersible sub will be deployed.
Toyota is recalling nearly 6.4-million vehicles globally for a variety of problems spanning nearly 30 models built between April 2004 through August 2013.
No injuries or crashes have been reported in relation to the recalls, but there have been two fires connected to a defective engine starter.
Twenty-seven Toyota models are being recalled, as well as two other vehicles.
Canada has ordered a Russian diplomat to leave this country, as Moscow stands accused of promoting further unrest in eastern Ukraine.
The expulsion comes a day after Canada accused Moscow of fostering pro-Russian activity in eastern Ukraine after its recent annexation of the Crimean Peninsula.
Pro-Russian activists have taken over government buildings in Donetsk and have declared their wish to secede from Ukraine. Activists have also taken control of government and media buildings there. Tens of thousands of Russian soldiers have been stationed to the region.
Oscar Pistorius is testifying for a third day at his murder trial. He returned to the witness stand after breaking down in sobs yesterday while describing the moments he said he realized he’d shot his girlfriend by mistake. Pistorius says he called for emergency help after he shot his girlfriend Reeva Steenkamp, and then police began arriving.
(“…got sick.”) (SOURCE:ABC) (445a)
The prosecutor maintains the double-amputee runner killed Steenkamp after an argument.
The Harper Conservative government is looking for public input on the topic of letting airport security screeners break into checked luggage.
Currently, Canadian airport screeners cannot force open luggage to examine the contents if an X-ray flags a concern.
They must first contact the airline, which then tries to find the passenger.
Transport Canada is seeking feedback on a plan to give screeners the power to break a lock or seal off a suspect bag without tracking down passengers.
In an epic finale more than 70 years in the making, red-headed comic book character Archie Andrews will die trying to save a friend.
The shocking news was announced Tuesday by Archie Comics publisher Jon Goldwater.
Archie will reportedly die in the July edition of “Life with Archie,” which is a spinoff series that explores the character’s life after high school and college.
There are plans for one more edition after the accident
While #36 shows readers Archie’s final moments, #37 to show how the remaining members of the Riverdale gang — including Jughead, Betty and Veronica and Reggie — have honoured the legacy of their friend.