Global Markets: Oil slips for the first time this week

By Commodity News Service Canada
WINNIPEG, October 19 (CNS) – The following is a glance at
the news moving markets in Canada and globally.
Oil prices slipped Thursday for the first time this week
but held onto most recent gains from OPEC-led supply cuts and
tensions in the Middle East. Brent crude fell US$1.02 a barrel
to a low of US$57.13.
There has been talk that if NAFTA ends Canada and the
United States would revert back to the previous 1987 trade deal
between the countries. However according to analysts that
wouldn’t necessarily be the case, the deal would have to be re-
implemented and as the U.S. current administration has shown it
would probably want to tweak the deal.
Sears Canada starts liquidation sales Thursday after being
approved by the courts last week. Discounts of up to 50 per cent
are expected at department stores, while up to 30 per cent off
at home stores. The liquidation sales are expected to last 10 to
14 weeks.

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