By Commodity News Service Canada
WINNIPEG, September 1 – The following is a glance at the news moving markets globally.
US LABOUR COSTS RISE
American labour costs gained at a 4.3 per cent annual rate in the second-quarter, reports say.
CANADIAN EXPENDITURE IN OIL, GAS INDUSTRIES DOWN IN Q2
Capital expenditures for the oil and gas extraction industries totalled C$8.8 billion in the second quarter, down 28.8 per cent from the second quarter of 2015, Statistics Canada said in a report on Thursday.
US CRUDE INVENTORIES STAY AT HISTORIC HIGH, PRICES FALL
US commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.3 million barrels from the previous week. At 525.9 million barrels, US crude oil inventories are at historically high levels for this time of year, the Energy Information Administration said in a report on Thursday.
The news caused crude oil prices to lose ground in early activity.