Oil kicks off week higher as traders focus on demand factors
BNN Bloomberg
Oil advanced as investors assessed conflicting signals for crude demand after a period of volatile trading.
West Texas Intermediate rose as much as 2.3 per cent on Monday, adding to a four per cent gain on Friday when futures pared a steep weekly loss. Better-than-expected U.S. employment data on Friday eased economic concerns and raised expectations for oil demand in the world’s biggest consuming nation.
Fears of a US recession and bank failures have rattled markets recently, pushing crude to the lowest intraday level since late 2021. However, physical demand signals suggest at least some of the weakness in prices may have been overdone. The amount of crude held around the world on stationary tankers dropped to the lowest since mid-February, Vortexa data show.
“Overall, however, the crude oil market remains exposed to high level of volatility, partly driven by extreme and regular positioning changes as funds struggle to find the right direction,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S.
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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