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Global Markets: Keystone XL to start construction next year

By Commodity News Service Canada
WINNIPEG, Sep. 25, 2018 (CNS) – The following is a glance
at the news moving markets in Canada and globally.
Crude oil prices hit a four-year high Tuesday, as the
Organization of the Petroleum Exporting Countries (OPEC)
and other top oil exporting countries showed no signs of
wanting to slow down oil exports. Upcoming United States
sanctions on Iranian crude exports also pushed prices up.
Brent crude futures rose 61 cents to US$81.81 per barrel,
but had touched US$82.20 per barrel earlier in the session.

Keystone XL pipeline construction will begin next
year, after a U.S. State Department review ordered by a
federal judge finished that environmental damage from a
leak is unlikely and could be eased, according to a
spokesperson. The company has already started prepping pipe
yards, transporting pipe and mowing parts of the project’s
right-of-way in Montana and South Dakota.
Aurora Cannabis Inc. more than tripled its revenues in
the fourth quarter, hitting $19.1 million. The gross margin
on medical cannabis rose 74 per cent, from 58 per cent in
the fourth quarter last year. The increase was mostly due
to higher average selling price per gram of dried cannabis
and a higher proportion of cannabis oil sales.

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