By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- In a post on Truth Social on Monday, United States President Donald Trump threatened to destroy Iran’s energy and power infrastructure, as well as capture Kharg Island if the Strait of Hormuz were not made safe for vessels to pass through. That caused a spike in crude oil, pushing benchmark prices above US$100 per barrel. Meanwhile, Pakistan said it plans to host talks with Iran in the coming days to end the war.
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Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally. – United…
- In an effort to reduce spikes in oil, the Australian government announced on Monday it’s cutting its excise tax by 26.3 cents per litre and removing the heavy road user charge for the next three months. Prime Minister Anthony Albanese said measures are to keep the country moving and to protect critical services. The country’s farmers criticized the plan for not specifying what are considered as critical services.
- The U.S. Department of Agriculture announced on Monday, a private sale for 145,000 tonnes of old crop corn to unknown destinations. Later this morning, the USDA will release its export inspections report, showing where U.S. grain has been shipped overseas for the week ended March 26.
- Air Canada CEO Michael Rousseau announced his retirement on Monday. Recently, Rousseau has been heavily criticized for a virtually English-only condolence video following the crash between an Air Canada Express airplane and a firetruck at LaGuardia Airport in New York. The only French he spoke were “bonjour” and “merci.” He said he will retire by the end of the third quarter of this year.
- Avi Lewis was elected the new leader of the federal New Democratic Party on Sunday. Lewis takes over the party at a low ebb with only six seats in the House of Commons, no official party status in Parliament and with the NDP $13 million in debt. The former journalist and documentarian who won 56 per cent support on the first ballot, campaigned on a new wealth tax and no new oil production.
