To no one’s surprise, an eventual agreement on crude oil seems less and less likely, as Iran is refusing to commit to limiting its production. Now that sanctions on the country have been lifted, Iranian officials have no interest in paying the price for decisions made by other producer nations who are responsible for the current situation. For the time being, oil prices are stable, but recent gains appear fragile.
Speaking of fragile, stock markets have entered somewhat of a lull, with those in Europe rising and those in North America poised to kick off a third straight day of gains. Obviously it’s too soon to talk about a turnaround, but the announcement of positive results by certain companies bodes well.
There’s also some sad news to pass along this morning, in that Bombardier will slash 7,000 positions over the next two years. There will no doubt be hiring in expanding divisions, but there’s no denying that this is a big blow to our job sector. Be careful on the ice!
