Canadian Oil Flow May Widen N.Y. Crude Discount, JPMorgan Says

Bloomberg reports that JP Morgan Chase & Co., in a report, announced that Canadian oil supply will continue to increase stockpiles.

The market news is quoted as saying:

Crude oil for July delivery rose 85 cents, or 0.9 percent, to $98.15 a barrel at 10:31 a.m. on the New York Mercantile Exchange, while Brent oil for July delivery climbed $1.49, or 1.3 percent, to $120.59 on the London-based ICE Futures Europe exchange.

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