"It is going to be slow": Oil markets react to US-Iran ceasefire

https://www.youtube.com/channel/UChLtXXpo4Ge1ReTEboVvTDg https://ift.tt/HVEPkLJ Global oil prices retreated from recent highs on Wednesday as the U.S. and Iran agree to a two-week ceasefire, but as industry experts tell Nivrita Ganguly, Canadians can expect prices at the pump to remain high for some time as supply chains grapple with continued uncertainty. "It is going to be slow to come back because, you know, we're talking about multiple weeks of disruptions that are in supply chains and ships that haven't been moving for a long time." Andrew Botterill from Deloitte Canada said. Although the increased cost of oil is projected to remain high, Botterill says this could be a net positive for Canadian energy exports. "People are looking at Canada as a safe and secure source of energy. So I think that's going to be really helpful for us as we look to advance a lot of our projects here in the coming months." For more info, please go to https://globalnews.ca Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc Follow Global News on X HERE: http://bit.ly/1Toz8mt Follow Global News on TikTok HERE: https://ift.tt/DIuy3eV #GlobalNews