Oil prices rose in early trade on Monday after U.S. and Chinese economic officials sketched out a trade-deal framework, easing fears that tariffs and export curbs between the world's top two oil consumers could dent global economic growth. Brent crude futures rose 46 cents, or 0.7%, to $66.40 a barrel by 0027 GMT. U.S. West Texas Intermediate crude futures rose 46 cents, or 0.75%, to $61.96, after rising 8.9% and 7.7%, respectively, in the previous week on U.S. and EU sanctions on [Read more]
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Will US sanctions on Russian oil work? It depends on how success is measured: Russell
A common view in the crude oil market is that Western sanctions against Russia's exports are fairly pointless as the market quickly devises ways to keep cargoes flowing. This means that any new measures imposed only result in a fleeting boost to prices, which fades in the face of the reality of virtually uninterrupted flows. The same dynamic may be at play with U.S. President Donald Trump's latest sanctions, announced last week, which targeted Russia's two largest oil companies, Lukoil and [Read more]
Five things to watch for in the Canadian business world in the coming week
TORONTO - Five things to watch for in the Canadian business world in the coming week: Bank of Canada The Bank of Canada is expected to make an interest rate announcement and release its fall monetary policy report on Wednesday. Most economists expect the central bank to cut its policy interest rate, even after inflation numbers last week came in higher than expected. Railway earnings Canada's big railway companies are expected to report their third-quarter results this week. Canadian [Read more]
Alberta’s latest pipeline push dredges up ghosts of projects past
CALGARY - Few are as acquainted with Canada's graveyard of defunct oil pipelines as Alex Pourbaix, a former executive at the company behind the Keystone XL and Energy East proposals. "You can see the scars on my back," he quipped at a news conference earlier this month, twisting his body at the lectern for emphasis. Pourbaix was on hand as the Alberta government announced plans to propose a new West Coast bitumen pipeline to the freshly created federal Major Projects Office, which aims [Read more]
Kremlin: Wrong to talk about cancellation of Putin-Trump summit, agencies report
The Kremlin said on Sunday it was wrong to talk about cancellation of a meeting between Russian President Vladimir Putin and U.S. President Donald Trump, but added that preparation for it was needed, state television Vesti reported on its Telegram channel. "Presidents cannot meet for the sake of meeting, they cannot just waste their time, and they are open about that. That's why they instructed (Russian Foreign Minister Sergei) Lavrov and (U.S. Secretary of State Marco) Rubio to prepare this [Read more]
Carney aims to sell Canada as reliable partner for trade in Southeast Asia
Prime Minister Mark Carney is pitching Canada as a reliable partner for Southeast Asia, one that's committed to rules-based trade at a time when U.S. President Donald Trump is rewriting global trade norms. He's heading to the Association of Southeast Asian Nations summit, known as ASEAN, seeking to drum up investment into Canada that will help achieve the nation-building plans that formed a central plank of the Liberals' election platform. In a speech previewing his government's first [Read more]
US could hit Russia with more sanctions to end Ukraine war, but first wants Europe to increase pressure
U.S. President Donald Trump's administration has prepared additional sanctions it could use to target key areas of Russia's economy if President Vladimir Putin continues to delay ending Moscow's war in Ukraine, according to a U.S. official and another person familiar with the matter. U.S. officials have also told European counterparts that they support the EU using frozen Russian assets to buy U.S. weapons for Kyiv, and Washington has held nascent internal conversations about leveraging [Read more]
Ontario premier provokes Trump’s ire once again with Reagan ad
The premier of Canada’s most populous province has again complicated the country’s delicate trade negotiations with the U.S., this time with a political ad targeting Americans that has drawn the ire of U.S. President Donald Trump. The ad, commissioned by Doug Ford, Ontario's outspoken Conservative premier who is sometimes compared to Trump, uses a snippet of Republican icon and former President Ronald Reagan saying that tariffs cause trade wars and economic disaster. In a series of posts on [Read more]
US sanctions on Russian oil companies will not have significant impact on economy, Putin envoy says
Kirill Dmitriev, Russian President Vladimir Putin's special envoy for investment and economic cooperation, said on Friday he does not believe that recently imposed U.S. sanctions on Russian oil companies will have a significant impact on the Russian economy. Dmitriev made the comments on Fox News' "Special Report" program during a visit to Washington for talks with U.S. officials. "We do not believe that these sanctions will have significant impact on the Russian economy, because oil [Read more]
Putin envoy Dmitriev says US, Ukraine and Russia close to ‘diplomatic solution’ on war
Kirill Dmitriev, Russian President Vladimir Putin's special envoy for investment and economic cooperation, said on Friday he believes his country, the United States and Ukraine are close to a diplomatic solution to end Russia's war in Ukraine. Speaking to CNN after arriving in Washington for talks with U.S. officials, Dmitriev said that a meeting between Donald Trump and Putin had not been cancelled, as the U.S. president described it, and that the two leaders will likely meet at a later [Read more]
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