By MarketsFarm

WINNIPEG, June 24 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

At least five people are dead in Mexico following a 7.4 magnitude earthquake on the southern coastline on Tuesday. According to Oaxacan Health Services, the earthquake also damaged several hospitals throughout the province.

A COVID-19 outbreak in Beijing has been deemed “under control” after 256 people in China’s capital were infected. However, cases continue to surge around the world. In the middle of a civil war, Yemen has officially reported more than 900 cases and 250 deaths, but real numbers are believed to be much higher.

Oil prices have been lower following reports of high stockpiles in the United States and concerns of surging COVID-19 cases. New cases of the virus are on the rise in Texas, Florida, Arizona, and California. “Hopes for a rise in demand are counterbalanced by fears regarding new Covid-19 spread,” said Hans van Cleef, senior energy economist at ABM Amro.