You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • State on forefront of CPA training
    If you want to find the latest trends in food, fashion or fitness, head to the coasts.
  • China's big gamblers lured from troubled Macau
    HONG KONG – China’s high-spending gamblers are looking to bet outside Macau amid a government assault on corruption and extravagance, and that’s boosting casinos from the Philippines to the Las Vegas Strip.
  • Alibaba a symbol of China's tech giants
    BEIJING – Alibaba Group’s U.S. stock offering is a wake-up call about an emerging wave of technology giants in China’s state-dominated economy.
Advertisement

Oil becalmed above $92 as U.S. inventories rise

BANGKOK (AP) — The price of oil was little changed Thursday as an increase in U.S. inventories kept demand in check.

Benchmark crude for April delivery was down 15 cents to $92.61 a barrel at midafternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 13 cents to finish Wednesday at $92.76.

Crude inventories increased by 1.1 million barrels, or 0.3 percent, to 377.5 million barrels, according to the weekly report Wednesday from the Energy Department's Energy Information Administration. That was less than half the increase expected by analysts.

Still, supplies are 9.5 percent above year earlier levels, which likely kept traders' enthusiasm to buy in check.

Brent crude, used to price many kinds of oil imported by U.S. refineries, rose 18 cents to $112.05 on the ICE Futures exchange In London.

In other energy futures trading on the Nymex:

— Wholesale gasoline was down 2 cents at $3.086 a gallon.

— Heating oil was nearly unchanged at $2.985 a gallon.

— Natural gas rose 0.6 cent to $3.44 per 1,000 cubic feet.

Advertisement