Oil falls as geopolitical jitters cool, demand concerns resume
BNN Bloomberg
Oil dropped as a pipeline carrying Russian crude to Europe was reported to have restarted and tensions over Poland eased, pushing demand concerns to the market’s forefront.
Oil dropped as a pipeline carrying Russian crude to Europe was reported to have restarted and tensions over Poland eased, pushing demand concerns to the market’s forefront.
West Texas Intermediate fell 1.5 per cent to settle above US$85 after a volatile session on Wednesday where futures swung in a US$3 range. Crude sold off after a section of the Druzhba oil pipeline, Europe’s largest crude oil conduit, was reported to have restarted following a power supply disruption.
Oil experienced a volatile 24 hours after a renewed injection of geopolitical risk. An oil tanker linked to an Israeli billionaire was hit by a projectile about 150 miles off the coast of Oman, according to a statement from its owner. Tuesday, a rocket hit a Polish village near the Ukrainian border. NATO and Polish leaders say the incident was unlikely to have been an intentional attack.
From rolled steel to kitchen cabinets, Canadian businesses hit by targeted U.S. tariffs are struggling to respond as the trade war drags into its second year.
Global benchmarks mostly rebounded Tuesday, in a mood of cautious relief after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war.
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Gold seen as overbought as Iran tensions ease, with falling oil prices lifting stocks and shifting investor sentiment toward risk assets.
Stock markets in Canada and the U.S. rallied after President Donald Trump said the United States has talked with Iran about a possible end to the war.
A cautious relief swept through financial markets Monday after President Donald Trump said the United States has talked with Iran about a possible end to their war.
A pipeline leak in Sarnia, Ont., has been located more than a week after a sheen reportedly turned up on the St. Clair River.
U.S. President Donald Trump on Monday said the U.S. was talking with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war. He also extended a deadline for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants, saying it has an additional five days.
Berkshire Hathaway, the conglomerate built by Warren Buffett, is buying a 2.49 per cent stake in Japanese insurer Tokio Marine Holdings for about US$1.8 billion as part of a new strategic partnership, deepening its financial commitment to Japan.
Relief is ripping through financial markets after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war, despite Iran’s denials.
Asset management giant BlackRock’s CEO Larry Fink urged clients to stay invested despite ongoing market volatility, and highlighted that artificial intelligence is reshaping investment strategies and the broader economy.
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