Global Markets: Crude oil dips, but trend still up

By MarketsFarm

WINNIPEG, Oct. 6 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Crude oil prices were weaker on Wednesday after climbing to their highest levels in years this week. A report from the American Petroleum Institute showing larger than expected supplies in the United States contributed to the pullback. However, analysts were generally of the opinion that the dip would be temporary, with the uptrend expected to continue as the Northern Hemisphere moves into winter and the resulting seasonal increase in demand.

– Tensions between China and Taiwan have heightened over the past week, with Chinese military flights near the island increasing to record levels. United States President Joe Biden says he has spoken with Chinese President Xi Jinping about the situation.

– Streaming platform Twitch was reportedly the victim of a data leak, with more than 100GB of the company’s data posted online Wednesday. Earnings reports for top streamers, passwords, and even the source code for the platform were released. The company, owned by Amazon, has not yet publically commented on the breach.

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