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Global markets: US consumer prices steady

By Commodity News Service Canada

WINNIPEG, July 14 – The following is a glance at the news moving markets globally.

– Consumer prices in the US held steady in June, according to reports out of the country on Friday, in the same time frame retail sales dropped, for the second month in a row.

Market watchers say that data indicates sluggish inflation and may curb the US Federal Reserve’s enthusiasm for further interest rate increases.

– Canadian refineries received 7.6 million cubic metres of crude oil in April, down 1.1 per cent from the same month in 2016, Statistics Canada said in a report on Friday.

Crude oil imports decreased 3.4 per cent from April 2016 to 2.9 million cubic metres. Imports represented 38.6 per cent of total crude oil received at refineries in Canada.

Crude oil inventories held at refineries totalled 3.7 million cubic metres in April, down 4.5 per cent from the same month in 2016, StatsCan said.

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