'He's in our hearts': Family and friends still seek answers one year after Nathan Wise’s disappearance
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
Canada's main stock index set new records again on rising crude oil prices, including Western Canadian Select reaching its highest level since 2014, even as U.S. equities trended lower.
The Canadian crude oil price moved above $58 a barrel.
Prices were higher about a decade ago but margins are much higher now than they were in 2012, said Craig Jerusalim, portfolio manager at CIBC Asset Management.
"So I would say $60 today is similar to $100 back then, if not more," he said in an interview.
Despite the current focus on pipelines, there's sufficient egress capacity to allow the differential between the Canadian benchmark and the global benchmarks to narrow.
West Texas Intermediate prices increased Tuesday to their highest level since October 2018 on growing demand as economies reopen and the inability of producers to bolster supply.
"There hasn't been that rush of supply increases to bring the commodity prices back down, so it's really that combination of strong growth and disciplined supply and that's why I don't think there's going to be an imminent fall in the commodity price any time soon."
The July crude oil contract was up US$1.24 at US$72.12 per barrel and the July natural gas contract was down 11.2 cents at US$3.24 per mmBTU.
The energy sector led the TSX, gaining 2.2 per cent as shares of Prairiesky Royalty Ltd. and MEG Energy Corp. rose 5.7 and 5.6 per cent, respectively.
The Canadian dollar traded for 82.05 cents US compared with 82.36 cents US on Monday.
The heavyweight financials sector climbed while Shopify Inc. helped push technology higher.
Health care was the biggest laggard, losing 2.7 per cent as Tilray Inc. lost 5.6 per cent.
Materials also lost ground with lower metals prices pushing Ivanhoe Mines Ltd. down 6.7 per cent.
The August gold contract was down US$9.50 at US$1,856.40 an ounce and the July copper contract was down 19.4 cents at US$4.33 a pound.
Jerusalim said base metals producers felt the effects of China giving indications that there might be a release of their strategic reserves that would especially impact aluminum and copper.
But he said supply issues ensure long-term fundamentals are still very strong for copper.
"There's just not enough supply to satisfy all the long-term demand growth from electric vehicles and renewable energy and copper wiring from construction," he said.
The S&P/TSX composite index closed up 73.67 points to a record close of 20,231.32.
In New York, the Dow Jones industrial average was down 94.42 points at 34,299.33. The S&P 500 index was down 8.56 points at 4,246.59, while the Nasdaq composite was down 101.28 points at 14,072.86.
U.S. markets fell ahead of the start of a two-day Federal Reserve meeting where rising inflation will be a topic of debate.
Most observers don't expect any movement to taper bond purchases but everyone will be parsing any comments to indicate if there's a change in outlook that high inflation is only temporary.
"I would argue that it is going to be transitory," Jerusalim said. "However, it's tough to say how long the high inflation levels last and the longer it lasts, the scarier it gets for long-duration assets."
This report by The Canadian Press was first published June 15, 2021.
It’s been a year since Nathan Wise went missing and his family is no closer to finding out what happened to him.
Dozens of Ontarians are expressing frustration in the province’s health-care system after their family doctors either dropped them as patients or threatened to after they sought urgent care elsewhere.
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
Amazon's paid subscription service provides free delivery for online shopping across Canada except for remote locations, the company said in an email. While customers in Iqaluit qualify for the offer, all other communities in Nunavut are excluded.
The fire burning near Fort McMurray grew from 25 hectares to 5,500 hectares over the weekend.
Russia’s President Vladimir Putin began a Cabinet shakeup on Sunday, proposing the replacement of Sergei Shoigu as defence minister as he begins his fifth term in office.
Police are searching for a male suspect after a man was “slashed in neck” on Sunday morning in downtown Toronto and died.
There were some scary moments for several people on a northern Ontario highway caught on video Thursday after a chain reaction following a truck fire.
Health Canada announced various product recalls this week, including electric adapters, armchairs, cannabis edibles and vehicle components.
English, history, entertainment, math and geography: high school trivia teams could be quizzed on any of it when they compete at the Reach for the Top Nationals in Ottawa in June.
An Ottawa pizzeria is being recognized as one of the top 20 deep-dish pizzas in the world.
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
A Listowel, Ont. man, drafted by the Hamilton Tigercats last week, is also getting looks from the NFL, despite only playing 27 games of football in his life.
The threat of zebra mussels has prompted the federal government to temporarily ban watercraft from a Manitoba lake popular with tourists.
A small Ajax dessert shop that recently received a glowing review from celebrity food critic Keith Lee is being forced to move after a zoning complaint was made following the social media influencer’s visit last month.
The Canada Science and Technology Museum is inviting visitors to explore their poop. A new exhibition opens at the Ottawa museum on Friday called, 'Oh Crap! Rethinking human waste.'
The Regina Police Service says it is the first in Saskatchewan and possibly Canada to implement new technology in its detention facility that will offer real-time monitoring of detainees’ vital health metrics.
Just as she had feared, a restaurant owner from eastern Quebec who visited Montreal had her SUV stolen, but says it was all thanks to the kindness of strangers on the internet — not the police — that she got it back.