By MarketsFarm
WINNIPEG, Oct. 30 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- Israel’s ground attack on Gaza intensified over the weekend, attacking Gaza City from both the east and west in an attempt at striking Hamas militants believed to be hiding in tunnels under the city. While Israel has called for civilians to leave the northern regions of Gaza, many people have chosen to stay in their homes with Israeli airstrikes to the south leaving little room for safety in the tiny Palestinian enclave.
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- The St. Lawrence Seaway Management Corp. and Unifor – the union representing about 360 seaway employees – reached a tentative agreement over the weekend with the help of federal mediators, ending a week-long strike that had hampered movement through the key shipping corridor. Details of the agreement were not immediately available, and the deal still needs to be ratified by members.
- The World Bank warned Monday that an escalation of the conflict between Israel and Hamas could push crude oil prices into “uncharted waters” and result in increased food prices worldwide. Laying out three possible scenarios of small, medium, or large disruptions to the global oil supply, World Bank analysts said a ‘large disruption’ could see world oil prices climb to US$140 to US$157 per barrel, which compares to current levels around US$80 to US$90.
