By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Crude oil prices rose sharply higher on Monday morning following the United States and Israeli strikes on Iran over the weekend. U.S. attacks on Saturday killed Iranian Supreme Leader Ali Khamenei and several other top officials. In turn, Iran launched strikes against Bahrain, Israel, Kuwait, Qatar and the United Arab Emirates. Also, Hezbollah fired rockets into Israel from Lebanon, with Israel retaliating. The attacks came after U.S.-Iran nuclear talks wrapped up Friday without an agreement. The death toll in the latest Middle East conflict has exceeded 600 people.
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Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally. – China…
- Canada is among several countries that have stated their support for the U.S. action, while condemning Iran’s retaliatory strikes. Prime Minister Mark Carney said on Saturday that Canada wasn’t part of the military build-up to strike Iran, and Canada won’t participate in the conflict. Opposition leader Pierre Poilievre said the Conservatives also support the U.S. action against Iran.
- As Carney continued his trip in India on Monday, he announced trade deals that are said to worth C$70 billion by 2030. Also today, Carney met with Prime Minister Narendra Modi, with them signing a commitment to negotiate a free trade by year’s end. This marked an end to frosty relations between Canada and India after accusations of Modi ordering the assassination a Sikh nationalist in British Columbia.
- Panamanian authorities reportedly raided the offices of the Panama Ports Company on Friday. A subsidiary of Hong Kong-based CK Hutchinson, PPC said the action was a “disregard for the rule of law.” In January, the Panamanian Supreme Court annulled deals that gave PPC control over two canal ports. The Trump administration has repeatedly accused Panama of giving control of its canal to China, something the Panamanian government denies.
