ICE canola rises as crude oil momentum spills into oilseed
Canola futures on the Intercontinental Exchange gained on Tuesday, tracking crude oil momentum after reported Saudi pipeline attacks and a related shutdown.
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07:23:52 PM UTC
SquawkNews
By Farhan Rafid and Anthony HarrupOil prices rose to four-month highs with the shutdown of Saudi Arabia's East-West Pipeline and Houthi threats to shipping in the Red Sea keeping the market on edge about supply out of the Middle East.Brent crude futures rose 2.9% to $108.75 a barrel Tuesday, while…
WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange rose Tuesday as crude oil strength spilled over into the oilseed. An analyst said attacks on a major pipeline in Saudi Arabia by Iran-backed Houthi rebels, and the shutdown that followed, pushed crude oil prices higher.