U.S. tariffs hit oil prices

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oil prices

calgaryherald

•

Business

Business & Economics

Varcoe: 'Market is fearful' — Global trade war, increased OPEC production shock oil prices, stocks

Summary

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72% Informative

Benchmark U.S. crude prices have fallen by almost 14 per cent since Wednesday .

Canadian oil and gas stocks are off 15 per cent .

Canada avoided seeing reciprocal tariffs from the United States , but it still faces previously announced levies on the auto, steel and aluminum sectors.

Alberta 's new budget projects a $5.2-billion deficit.

OPEC+ members to bring back more oil output caught many observers by surprise.

Analysts and the Bank of Canada have warned that companies are delaying hiring and making investment decisions.

At this point, Colborne doesn’t expect major shifts by the industry because of lower energy prices — at least not yet.

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Neutral language

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formal

Language

English

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