Angola is leaving the Organization of the Petroleum Exporting Countries (OPEC) because membership is not serving its interests, oil minister Diamantino Azevedo said on Thursday. Angola, which joined OPEC in […]
Category: Uncategorized
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Regulator denied Trans Mountain variance request due to pipeline safety concerns
The Canada Energy Regulator is citing safety concerns as its reason for refusing a request by Trans Mountain Corp. for a pipeline variance. In a written statement released Wednesday, the […]
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U.S. weekly unemployment claims rise slightly, remain at low levels despite higher interest rates
The number of Americans applying for unemployment benefits rose slightly last week but still remained at historically low levels despite high interest rates intended to slow hiring and cool the […]
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Linamar to buy agriculture equipment manufacturer Bourgault Industries in $640-million deal
Linamar Corp. LNR-T +1.76%increasesays it’s reached an agreement to acquire Bourgault Industries Ltd. in a deal worth $640-million. The Guelph-based company says Bourgault is a world-class agriculture equipment manufacturer. Linamar says Bourgault […]
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Dec 20 – The close: Stocks lower as abrupt sell-off snaps multi-day rally
U.S. and Canadian stocks closed lower on Wednesday after an abrupt mid-afternoon sell-off snapped a rally that had been driven by falling interest rates and the Federal Reserve’s dovish turn. […]
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Crude Rises as Red Sea Worries Overshadow a Bearish EIA Report
February WTI crude oil (CLG24) this morning is up +0.78 (+1.05%), and Feb RBOB gasoline (RBG24) is down -0.22 (-0.10%). Crude oil and gasoline prices this morning are mixed, with […]
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U.S. crude, gasoline and distillate stocks rose more than expected last week: EIA
U.S. crude stocks, gasoline and distillate inventories rose last week, the U.S. Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 2.9 million barrels in the week to […]
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Canada’s inflation rate holds at 3.1% in November
Canada’s annual inflation rate held at 3.1 per cent in November, higher than analyst expectations of 2.9 per cent, Statistics Canada said Tuesday in a report. The result was largely […]
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BP pauses oil tanker traffic through Red Sea amid Houthi rebel attacks
BP will pause all of its shipments through the Red Sea effective immediately due to a series of attacks on trade vessels by Houthi rebels in Yemen, the company announced […]