Global Markets: Cargo ships hit off Iran coast

Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.

• Three cargo ships were reportedly struck off the coast of Iran on Wednesday, with Iranian drones also targeting the Dubai airport and oil facilities in neighbouring countries. The United States said it had sunk several Iranian vessels, including 16 minelayers. Israel launched strikes on Lebanon, expanding attacks on Beirut.
• Crude oil was higher Wednesday morning, with traffic halted through the Strait of Hormuz and no end in sight to the escalating conflict. Several countries announced plans to release some of their oil reserves, including Germany, Austria and Japan.
• New Democratic Party Member of Parliament Lori Idlout will cross the floor and join the minority Liberal government, the two parties confirmed in statements. Idlout has represented Nunavut in the House of Commons since 2021. Her move drops the NDP seat count to six MPs and brings the Liberals to 170 — just two short of a majority.

---

Newsletter Sign Up - Stories about strategic business thinking and farming success

You'll receive profiles, case studies and strategy from modern farming in Canada, delivered to your inbox 6 days a week!

This field is hidden when viewing the form

Interest ID

Your Email(Required)

Your Postal Code(Required)

Consent

I consent to receiving emails from Glacier FarmMedia, its affiliates and divisions and third parties, containing agriculture news, updates and promotions. I can unsubscribe at any time

Name

This field is for validation purposes and should be left unchanged.