Oil flat on the week as global slowdown worries offset U.S. demand
BNN Bloomberg
Oil was little changed on the week as lingering concerns over a global economic slowdown overshadow signs of improving U.S. demand.
West Texas Intermediate futures swung between gains and losses on Friday and traded near US$91 a barrel on Friday in another choppy session.
US gasoline demand is picking up after pump prices tumbled and OPEC’s new secretary-general sounded a warning over “scarce” spare oil-production capacity, but concerns about weakening economic growth around the world continue to daunt the market. Expectations for growth in supply amid Iran nuclear talks have also weighed on prices.
“Crude will be very choppy and volatile until we get clarity on how that plays out,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management.
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.
It’s that time of the year again, tax time, a time to file your annual return with the Canadian Revenue Agency.
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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