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Jun 8, 2022 · Why high oil prices aren't creating an economic boom in Canada. Typically that discount is about $10-$15 US a barrel, but recent events have pushed the gap to beyond $20. That's the widest...
Sep 24, 2023 · Some forecasts suggest that oil prices could soon reach at least $100 US per barrel — putting even more pressure on Canadian consumers coping with high inflation.
- Less Investment Appetite
- Record-Setting Profits
- Demand Flexible, But Steady
The last time the global price of oil surged this high, starting in 2008, there was a surge in investments and a hiring boom. Commodity expert Rory Johnston says years of low prices and low profits have made companies wary of moving too quickly this time. "There's a lot of scarring that occurred over the past decade," said Johnston, author of the n...
Higher oil prices are still a net positive for the Canadian economy, said CIBC's Shenfeld, but things are different this time. "When they're caused by disruptions in the global economy they are not as powerful as when they are caused by strength in economic activity around the world," he said. As the price of oil has skyrocketed these past few mont...
So will the high prices stay? These past two years have been some of the most tumultuous and volatile in modern history. It's easy to wonder if maybe things have changed. "I have an allergic reaction as an economist to any claim that this time is different," said Brett House, formerly the deputy chief economist at Scotiabank. He says there were man...
Oct 13, 2021 · The prices of heating oil, a petroleum distillate, and propane, a derivative of natural gas processing and oil refining, reflect the ripple effects of an energy shortage that’s stalking the...
Jun 4, 2024 · Oil prices continued their slide on Tuesday on skepticism about an OPEC+ decision to boost supply later this year into a global market where demand has already shown signs of weakness.
2 days ago · July 4 (Reuters) - Oil prices for Brent crude hit their highest level since April on Thursday, holding above $87 after data the previous day showed a decline in U.S. inventories. Brent crude ...
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US heating oil futures traded above $2.60 per gallon, remaining near their highest level in eleven weeks of $2.63 seen July 2nd, as the latest EIA report showed a reduction in supplies alongside increased demand.
