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Global markets: Crude market strengthens

By Commodity News Service Canada

WINNIPEG, February 27 – The following is a glance at the news moving markets globally.

– Crude oil futures advanced in early activity on Monday, propped up by ideas that prices could advance further with an OPEC (Organization of the Petroleum Exporting Countries) production cut.

However, strong US production kept a lid on advances.

– The Canadian Farm Product Price Index (FPPI) decreased 0.7 per cent in December compared with the same month a year earlier, primarily due to lower cattle prices. While the index continued the year-over-year decline, which began in December 2015, the index has been falling at a slower rate since September 2016, Statistics Canada said in a report on Monday.

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