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Global Markets: Crude oil falls to yearly lows

By Commodity News Service Canada

WINNIPEG, Nov. 23 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Crude oil prices were at their lowest levels in more than a year Friday morning, as concerns over oversupply and a soft global economic outlook weighed on values. OPEC members meet in Vienna on Dec. 6 and are expected to move towards curtailing output.

– United States President Donald Trump and Chinese President Xi Jinping are scheduled to meet in Argentina at the G20 summit next week. Investors are divided over whether or not any constructive headway on trade relations will be made.

– Canada’s consumer price index rose at an annual rate of 2.4 per cent in October, according to a report from Statistics Canada. Average market estimates had been for the inflation rate to hold steady at September’s level of 2.2 per cent.

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