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Global markets: Crude futures fall

By Commodity News Service Canada

WINNIPEG, July 10 – The following is a glance at the news moving markets globally.

– Crude oil futures dropped in early activity on Monday,
feeling pressure from increased drilling in the US and reports
of increased supplies.

However, reports said Libya and Nigeria may join an OPEC and non-OPEC producers’ meeting this month.

– The Canadian government has proposed new rules to help curb housing market financial risks, according to reports.

The proposal, issued last week, has the potential to make it more difficult for Canadians to obtain a mortgage, analysts say, as homebuyers must demonstrate the ability to financially absorb a two per cent increase in mortgage rates.

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