ICE canola futures stay lower after crude oil drop
Canola futures on the Intercontinental Exchange fell further late Thursday morning, with declines in comparable oils weighing on oilseed markets. Crude oil dropped on reports of Saudi pipeline damage tied to Iran-backed Houthi rebels.
WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange moved further lower late Thursday morning as weakness in comparable oils continued to weigh on the oilseed. Crude oil fell by as much as US$2 per barrel on reports that a pipeline in Saudi Arabia was damaged by Iran-backed Houthi rebels.