By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- All oil and gas production in the Middle East’s gulf region could come to a complete stop in the coming days, Qatar’s energy minister, Saad al-Kaabi, warned on Friday. Kaabi pointed to the ongoing Iranian air strikes and the closure of the Strait of Hormuz. He also suggested that crude oil could soar to as much as US$150 per barrel should production come to a halt.
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Global Markets: Day Six of Middle East war
By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada…
- Israel launched heavy strikes on Tehran and Beirut on Friday, in the latest round of attacks in the Middle East war. Iran continued its drone attacks on Israel and United States military sites in the Gulf region. U.S. President Donald Trump demanded a say in who becomes the next Supreme Leader of Iran. In the first week of the conflict the death toll exceeded 1,300 people.
- There were fewer jobs in the U.S. during February, the Bureau of Labor Statistics reported on Friday. Non-farm payrolls lost 92,000 jobs last month, adding to the revised 126,000 that were gone in January. Added to that, the U.S. Commerce Department said January retail sales slipped 0.2 per cent in January from December. Ahead of the report, analysts predicted retail sales would remain steady.
- Canadian Prime Minister Mark Carney met with Japanese Prime Minister Takaichi Sanae on Friday. They signed new strategic partnership agreements pertaining to Canadian and Japanese co-operation on defence, energy and technology. These are the latest deals this week after Carney reached agreements with the prime ministers of India and Australia.
- Canada-U.S. Trade Minister Dominic LeBlanc is set to meet with U.S. Trade Representative Jamieson Greer on Friday for new trade talks. LeBlanc’s trip to Washington came a day after the Trump administration announced it will seek a bilateral trade deal with Mexico. LeBlanc and Greer are to discuss the current review of the Canada-U.S.-Mexico Agreement that was negotiated and signed during Trump’s first term.
