Global Markets: U.K., E.U hit another Brexit negotiation snag

By MarketsFarm

WINNIPEG, Dec. 18 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

Although the United Kingdom formally left the European Union on January 31, 2020, some negotiations are still under way. Michel Barnier, the EU’s chief negotiator, warned U.K. Prime Minister Boris Johnson that access to the EU’s single market will be conditional on keeping British fishing waters open to EU boats. Talks have reportedly reached a stalemate, as Johnson said negotiations will fail unless the EU changes their “not reasonable” stance.

Health Canada has reported a significant jump in the amount of cannabis authorized for medical license holders who grow the plant at home. A loophole in regulations allows medical license holders to grow up to 36.2 gram per day, up from 25.2 in October 2018. Health Canada, politicians, and law enforcement agencies have called the figure “concerning,” as large-scale production by patients and designated growers has gone largely unchecked.

Crude oil prices hit their highest levels in nearly 10 months on Thursday following reports that U.S. lawmakers are finalizing a stimulus deal that may boost demand. Additionally, anticipation of a broad rollout of the COVID-19 vaccine also supported crude oil markets.

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