3 h. ago Iraq to Cut Oil Price in Federal Budget Amid Plummeting Market

Iraq, OPEC’s second-largest producer, plans to cut its oil-price assumption in the federal budget after the market plunged.

Economics

4 h. ago Here's how much home prices in Canada are expected to drop in 2025

Following an uptick in home prices in 2024, British Columbia could be among the parts of Canada to see a potential decline in housing prices in 2025.According to a recent forecast by TD Bank's economists, average home prices in B.C. will fall by 4.1 per cent in 2025, before rising by 2.7 per cent in 2026. This comes after a 1.7 per cent increase in home prices in 2024.This will be the country's second-largest dip in home prices, following the forecast for Ontario: a decrease of 6.4 per cent in 2025, and a subsequent increase of 2.2 per cent in 2026. Last year, home prices in Ontario went up marginally, by 0.3 per cent.As for the number of home sales in B.C., the volume of transactions is expected to decrease by 0.8 per cent, before rallying by a staggering 14.7 per cent in 2026. Similarly, Ontario will see a 7.6 per cent drop in home sales in 2025, followed by a 16.9 per cent increase in 2026, the bank's experts say."This reflects muted demand conditions in both [B.C. and Ontar...

Economics

5 h. ago Tariff uncertainty foils ’slam dunk rebound year’ for national home sales: CREA

The Canadian Real Estate Association has downgraded its forecast for home sales activity in 2025, while the number of homes that changed hands across the country in March was down 9.3 per cent compared with a year ago. The association says Canadian home sales in March also fell 4.8 per cent on a seasonally adjusted […]

Society

10 h. ago Global Oil Surplus to Persist in 2026 as Demand Sags, IEA Says

The International Energy Agency slashed forecasts for global oil demand this year amid the brewing trade war, and in its first detailed assessment of 2026 predicted a persistent supply surplus.

Other

31 h. ago OPEC Cuts Oil Demand Forecast for 2025 and 2026 on Trade War

OPEC cut forecasts for global oil demand growth slightly this year and next as President Donald Trump’s tariff onslaught takes a toll on consumption, while remaining more bullish than other forecasters.

Economics

6 d. ago Oil Extends Brutal Selloff as Fresh Tariff Wave Imperils Demand

Oil extended a brutal selloff that’s driven prices to a four-year low as an intensifying trade war threatens to batter energy demand.

Economics

6 d. ago Oil Extends Steep Selloff as Fresh Tariff Wave Imperils Demand

Oil extended a steep selloff that’s driven prices to four-year lows as an intensifying trade war threatens to batter energy demand, with investors waiting for a fresh wave of levies to go into effect.

Economics

1 week ago Oil Drops as Trump’s Trade War Stokes Concern About Crude Demand

Oil retreated after US President Donald Trump ratcheted up his trade war with sweeping tariffs on major trading partners, raising concerns that economic turmoil will hurt crude demand.

Economics

1 week ago Big Oil Morphs Into Big Gas in China as EVs Slash Fuel Demand

China’s energy giants are increasingly pivoting to natural gas to raise production, as demand for oil slows and global trade tensions heighten the risks of relying too heavily on imports.

Other

2 w. ago Ontario's 2025 summer forecast has arrived and here's what's in store

Ontario's weather still seems to be yo-yoing between wintery lows and summerlike highs, but the province's 2025 summer forecast promises that higher temperatures will eventually stick around — but will they be too high?While blustery frigid temperatures seem committed to sticking around until the bitter end (can it be now, please?), experts have been predicting above-average temperatures in Ontario this spring, which have already been foreshadowed by a handful of above-seasonal days so far.This summer, they're holding fast to that prediction, forecasting above-average — even potentially record-breaking — temperatures throughout the sunny season.The Old Farmer's Almanac's summer 2025 report for the U.S. and Canada reports a slow build-up to hotter temperatures this summer, with June temperatures remaining more or less the same.However, the Almanac predicts July and August will bring above-average temperatures to much of North America, and, with last s...

Other

3 w. ago OPEC+ Oil Quota Violators Update Pledges for Compensation Cuts

OPEC+ nations that have persistently exceeded oil production quotas provided updated plans to make additional cutbacks in compensation.

Other

3 w. ago Here's what the first months of spring weather will look like in Ontario

April showers have come a little early in Southern Ontario as the province celebrates its first day of spring on Thursday under partially cloudy skies and intermittent showers.Now that astronomical winter is behind us — with meteorological winter having concluded with February's end — residents are indeed looking forward to some longer, more temperate days after what was a snowier season than we've seen in some years.But what will spring 2025's weather look like in and around Toronto?The shift from 2023 and 2024's El Niño weather pattern to this year's La Niña has made the last few months feel like a bit of a messy, stormy rollercoaster that has most recently been accompanied by 20 C temperature swings amid bursts of short-lived, summer-like conditions.Wednesday, the final day of winter proper, was Toronto's warmest day of the year so far, with temperatures cracking 21 C before the city was&nb...

Other

3 w. ago Spring is taking root across Canada. What will the season bring?

Wild swings make spring a difficult season to forecast in Canada, even more so this year amid a transition from a weak La Nina to perhaps the first sign of a new El Nino.

Other

4 w. ago Oil Holds Gains With China Demand and Geopolitical Risk in Focus

Oil steadied after a two-day gain, with the outlook for China’s economy and geopolitical risk in the Middle East remaining in focus.

Politics