Wall Street's jitters over Iraq violence driving up pump prices in Canada
CALGARY - Conflict on the other side of the world is expected to drive up gasoline prices here in Canada.
Roger McKnight, an analyst with En-Pro International, says he sees pump prices rising by more than two cents per litre in the Toronto area in the next day.
He says the increase has nothing to do with supply and demand in North America.
Rather, he says the culprits are traders on Wall Street who are nervously eyeing how tensions in Iraq could affect global oil supplies.
Al-Qaida-inspired militants have captured two key cities in Iraq this week and are threatening to march on Baghdad.
McKnight says the traders are likely watching how close the militants get to key oil export infrastructure in the south.
Read more Business News
- The tale of two KegsKelowna - 5:00 am
- Girl carried off into bushesBC - 6:47 am
- Top crash sitesCentral Okanagan - 7:06 am
- Pulp mill owner to pay large fineBC
|QHR Technologies Inc||1.22||-0.04|
|Anavex Life Sciences||0.1804||-0.0036|
|Copper Mountain Mining||2.29||-0.13|
|Sunrise Resources Ltd||0.065||+0.045|
|Mission Ready Services||0.31||-0.01|
Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...
Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...
Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...