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Are gas prices too high? BMO report suggests Canadian drivers not reaping full benefit of low oil


TORONTO — A report by the Bank of Montreal suggests Canadian drivers aren’t reaping the full benefit of lower oil prices when it comes to prices at the pump. BMO senior economist Benjamin Reitzes pointed to a chart that showed when the Brent crude oil price was last at today’s …

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Crude prices are getting slammed, in wild day for oil market


Crude oil is getting slammed on Monday, with front-month contracts for Brent and West Texas Intermediate each down more than 6 per cent at their lows of the day. Meanwhile, Western Canadian Select, a heavier blend of crude, trades at US$16.32 per barrel. A supply response to lower prices continues …

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Rebound in crude prices helps loonie break through 70 cents U.S.


TORONTO — Strengthening oil prices helped the commodity-sensitive loonie punch through the 70-cent U.S. mark, closing at 70.03 cents U.S. That’s an increase of 1.02 cents from Wednesday’s close. The Canadian dollar hasn’t closed above 70 cents U.S. in more than a week. Colin Cieszynski, chief market strategist at CMC …

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Ontario prices second round of green bonds: $750 million at 1.95% for seven years


Thanks to its latest issue, the amount of green bonds issued by the government of Ontario has now risen to $1.25 billion. Last Friday, Ontario priced its second issue. The province is set to raise $750 million at a coupon of 1.95 per cent. (Because the bonds were issued at …

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The low loonie is attracting Americans to Canada’s used cars — and that may mean higher prices for you


Enticed by the low loonie, Americans are snapping up Canada’s used vehicles in near-record numbers, leading to higher prices at home and possibly even contributing to soaring new-vehicle sales. $10 cauliflower just the beginning: Get ready for more price hikes The Canadian dollar’s plunge to a nearly 13-year low this …

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Why low oil prices may suddenly be a problem for the global economy


For the last 75 years, almost every economic crisis has been preceded by an oil price spike. The worry now is that low energy prices are pushing the global economy into a tailspin. While all cheer Alberta’s royalty regime, this piece of the oilpatch is getting slaughtered Canadian oilfield services …

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Oil prices tumble 7% as fears of record high U.S. stockpiles grow


NEW YORK — Oil prices fell 7 per cent on Tuesday as equity markets remained weak, forecasts called for record high U.S. crude stockpiles to grow more, and the latest global energy demand outlooks did not look strong enough to eliminate the swelling glut. Canadian energy companies selling off 'jewels …

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Oil prices beginning with ‘One’ could be with us soon as crude tanks to 12-year lows


This is a Benjamin Button oil market. Reliving its twenties already, it now faces the decidedly awkward prospect of heading back into its teens. U.S. crude climbed above $27 in New York after touching $26.13. The energy minister from the United Arab Emirates said OPEC may cooperate to curb output, according …

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Oil prices jump on talk OPEC is ready to deal, but traders are wary of ‘jawboning’


NEW YORK — Global oil prices surged as much as 12 per cent on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, while a bounce in stock markets fed appetite for risk. Despite the strong daily gain, oil prices …

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How a crash in metals prices has made 2016 a great year to build a mine


Earlier this month, Stornoway Diamond Corp. said something that would have been unimaginable a few years ago — its mine is being built ahead of schedule and under budget. “You can imagine we’re sticking our necks out by saying that, so we have to be pretty confident it’s the case,” …

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