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Global markets: Crude oil futures climb four per cent

By Commodity News Service Canada

WINNIPEG, January 22 – The following is a glance at the news moving markets globally.

CRUDE OIL FUTURES CLIMB HIGHER
Crude oil futures gained more than four per cent in early activity on Friday, as attacks on Libyan oil terminals reintroduced the idea that supplies in the Middle East could be at risk.

GENERAL ELECTRIC MISSES FOURTH QUARTER SALES ESTIMATES
General Electric missed analyst expectations in the fourth quarter.

Sales in the fourth quarter totalled US$33.8 billion compared with the US$35.9 billion expected by analysts.

Lower crude oil and energy prices attributed to weaker sales, market watchers say.

CANADA’S CONSUMER PRICE INDEX GAINED IN DECEMBER
Canada’s consumer price index rose 1.6 per cent in the 12 months to December, after increasing 1.4 per cent in November, Statistics Canada said in a report on Friday.

According to StatsCan, excluding gasoline, the consumer price index rose 1.9 per cent year-over-year in December, matching the increase in November.

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