Video shows suspect setting Toronto-area barbershop on fire
Video of a suspect lighting a Richmond Hill barbershop on fire earlier this week has been released by police.
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.
Video of a suspect lighting a Richmond Hill barbershop on fire earlier this week has been released by police.
The adorable trio of child actors from the 1993 classic comedy 'Mrs. Doubtfire,' which starred the late and great Robin Williams, are all grown up and looking back on their seminal time together.
As Wegovy becomes available to Canadians starting Monday, a medical expert is cautioning patients wanting to use the drug to lose weight that no medication is a ''magic bullet,' and the new medication is meant particularly for people who meet certain criteria related to obesity and weight.
York Regional Police say they are continuing to search for a suspect in an auto theft investigation who was captured on video running over a police officer in Toronto last month.
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
A Chinese truck driver was praised in local media Saturday for parking his vehicle across a highway and preventing more cars from tumbling down a slope after a section of the road in the country's mountainous south collapsed and killed at least 48 people.
Sadiq Khan, the Labour Party's mayor of London, appeared Saturday to be romping to victory as results from the capital pour in.
A New Brunswick woman suffering from sarcoidosis, a disease that limits your lung capacity, is in need of a double lung transplant.
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
Alberta Ballet's double-bill production of 'Der Wolf' and 'The Rite of Spring' marks not only its final show of the season, but the last production for twin sisters Alexandra and Jennifer Gibson.
A British Columbia mayor has been censured by city council – stripping him of his travel and lobbying budgets and removing him from city committees – for allegedly distributing a book that questions the history of Indigenous residential schools in Canada.
Three men in Quebec from the same family have fathered more than 600 children.
A group of SaskPower workers recently received special recognition at the legislature – for their efforts in repairing one of Saskatchewan's largest power plants after it was knocked offline for months following a serious flood last summer.
A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.