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Global markets: Crude oil futures fall with US production

By Commodity News Service Canada

WINNIPEG, January 23 – The following is a glance at the news moving markets globally.

– Crude oil futures declined in early activity on Monday, pressured by indications that US drilling activity is stronger.

American drillers added the most rigs in close to four years last week, data out of the country says.

– Wholesale sales edged up 0.2 per cent to C$56.9 billion in November, a second consecutive increase, Statistics Canada said in a report on Monday.
Higher sales in four subsectors were partially offset by lower sales in two subsectors. The motor vehicle and parts subsector posted the largest decline, while the miscellaneous subsector, which includes wholesalers of agricultural supplies, chemicals and allied products, and paper, paper product and disposable plastic products, posted the largest increase.

In volume terms, wholesale sales edged down 0.1 per cent.

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