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Canadian Financial Close: Crude’s dramatic about face

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Reading Time: < 1 minute By Glen Hallick Glacier FarmMedia – The Canadian dollar closed higher on Monday, despite sharp swings in crude oil. The loonie finished at US$0.7367 or US$1=C$1.3574 compared to Friday’s close of US$0.7346 or US$1=C$1.3613. On the United States Dollar Index, the greenback dipped 0.159 of a point at 98.550. Benchmark crude oil prices were lower […] Read more
A view of the straight of Hormuz and Persian Gulf region. Photo: Getty Images Plus
Markets, News

Crude price may have topped says analyst

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Reading Time: 2 minutes Any chance of crude oil prices skyrocketing higher became less likely on March 9, said Phil Flynn, senior market analyst at the Price Futures Group in Chicago. Flynn based that on the assumption that Iran’s military capabilities are declining quickly.
Futures

ICE review: Canola falls from early climb

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Reading Time: < 1 minute The ICE Futures canola market gapped sharply higher in overnight trade, as the escalating Mideast war sent crude oil climbing. However, oil backed off its gains, and canola settled with small losses on Monday. West Texas Intermediate crude oil traded near US$120 per barrel in the April contract amid the escalating Iran war, as traffic […] Read more
Futures

ICE canola up in front months, but off highs at midday

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Reading Time: < 1 minute WINNIPEG–ICE Futures canola contracts were holding onto gains in the front months at midday Monday, but well off their overnight highs with losses in the more deferred positions. Crude oil shot higher amid the escalating Iran war, as traffic through the Strait of Hormuz remains halted and many Mideast oil exporters cut back production. West […] Read more
Global markets

Global Markets: Crude oil climbs as Mideast conflict escalates

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Reading Time: < 1 minute Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. The escalating conflict in the Middle East sent crude oil values climbing higher, while the resulting threat of inflation weighed heavily on world equities. Agricultural futures were mostly higher. Iran named Mojtaba Khamenei as its new Supreme Leader, […] Read more
Futures

ICE canola follows crude oil’s lead

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Reading Time: < 1 minute Glacier FarmMedia – Canola futures on the Intercontinental Exchange continued to rise on Monday morning, especially the nearby contracts, due to spillover from sharp gains in crude oil prices. Crude was up by more than US$9 per barrel on Monday morning, at around US$100, as the conflict in the Middle East drove up oil prices. […] Read more
Currency Markets

Canadian Dollar and Business Outlook: Big gains in crude

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Reading Time: < 1 minute By Glen Hallick Glacier FarmMedia – The Canadian dollar pushed higher on Monday morning, as crude oil continued surge upward. As of 8:35 am CST, the Canadian dollar was at US$0.7375 or US$1=C$1.3563, compared to Friday’s close of US$0.7346 or US$1=C$1.3613. On the United States Dollar Index, the greenback added 0.191 of a point at […] Read more

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