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Global markets: Crude revisits lows

By Commodity News Service Canada

WINNIPEG, March 13 – The following is a glance at the news moving markets globally.

– Crude oil futures declined to a three-month-low in early activity on Monday, feeling pressure from heavy US production and drilling activity. The market has declined close to ten per cent week on week, which may have pushed prices to overdone levels—but downside risk remains.

Losses in the crude oil market are bearish for the commodity-linked Canadian dollar.

– UK exports increased by 1.6 per cent in January, according to reports out of the region on Monday.

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