The Daily Chase: Oil prices elevated ahead of OPEC+ meeting; Canadians still loving cheap money
BNN Bloomberg
West Texas Intermediate and Brent crude oil prices are holding near three-year highs this morning ahead of an OPEC+ meeting, where the big question is whether the cartel and its allies will stay the course or tweak the trend of monthly output hikes at a rate of 400,000 barrels per day.
West Texas Intermediate and Brent crude oil prices are holding near three-year highs this morning ahead of an OPEC+ meeting, where the big question is whether the cartel and its allies will stay the course or tweak the trend of monthly output hikes at a rate of 400,000 barrels per day. We’ll pay close attention as the energy subgroup remains the star performer for the S&P/TSX Composite Index this year amid growing concern about supply-demand imbalances.
CANADIANS CAN’T SHAKE THIRST FOR DEBT
The latest survey from MNP is reminding us that many Canadians can’t resist cheap money. Among the takeaways: 58 per cent of respondents said low rates are offering them an opportunity to buy things they couldn’t otherwise afford, and one out of every five respondents said they’re planning to avail themselves of buy now, pay later financing options. Meanwhile, more than one-third of respondents (35 per cent) said they’re worried that higher interest rates could push them into bankruptcy.
EVERGRANDE WATCH
Shares of the debt-laden property developer have been halted in Hong Kong amid a report that a deal is in the works to raise cash by selling a stake in its property services division. It comes at a crucial moment after a US$260-million bond that Evergrande guaranteed hit its maturity date yesterday.
HOT POTATOES IN D.C.
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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