Thursday, March 5th-4.5°C
25326
25263

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.

The Canadian Press


Read more Business News

25194


Recent Trending




Today's Market
S&P TSX15082.84-51.01
S&P CDNX698.09-4.21
DJIA18096.90-106.47
Nasdaq4967.142-12.76
S&P 5002098.53-9.25
CDN Dollar0.8039-0.0009
Gold1202.50+1.90
Oil53.38+0.15
Lumber287.30-3.40
Natural Gas2.784+0.015

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.010.00
QHR Technologies Inc1.55-0.05
Cantex0.035-0.005
Anavex Life Sciences0.18+0.005
Metalex Ventures0.04-0.005
Russel Metals24.95-0.26
Copper Mountain Mining1.24-0.01
Colorado Resources0.13-0.005
ReliaBrand Inc0.0065-0.0015
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.225+0.01

 



24947

FEATURED Property
2136178850 Saucier Avenue
1 bedrooms 2 baths
$245,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...

_








Member of BC Press Council


25107