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Oil Tumbles | US Treasury Yield Jumps to 7-Year High

Published October 5, 2018
  • Brent crude prices retreated sharply from four-year highs, due to broader market selling and concerns that recently rising US oil inventories will keep climbing throughout the low-demand fall season. Brent crude has hit a low of $84.10.
  • Benchmark 10-year US Treasury yields hit their highest level since 2011 after the Labour Department’s monthly jobs report showed another month of rising wages and a sharp revision higher to August’s nonfarm payrolls.
  • Canada has not included the United States in an upcoming meeting aimed at saving the international trading system because it doesn’t share the views of the 13 invited countries, says Jim Carr, Canada’s newly appointed international trade diversification minister.
  • European Union negotiators have revealed that a Brexit deal is close to being finalized after a crucial breakthrough in the longstanding Irish border issue. It comes hours after Irish Prime Minister Leo Varadkar said he was hopeful an agreement can be struck within two weeks.