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Gas prices are likely going to tick up once more in Canada, in line with an analyst, as a signed peace agreement between the U.S. and Iran appears to be unravelling.<\/p>\n
Oil prices were spiking nearly five per cent Wednesday morning from a day earlier, with the worth for West Texas Intermediate hovering around US$73.60 per barrel as of publication. At the identical time, Brent crude oil in Europe was US$73 per barrel, up greater than three per cent from Tuesday.<\/p>\n
Higher oil prices typically end in dearer fuel, including for consumers filling up at gas pumps in Canada.<\/p>\n
The national average for normal gas in Canada, as of publication, sits at a median of near $1.64 per litre, in line with CAA. That\u2019s up nearly 4 cents from Tuesday.<\/p>\n
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<\/p>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t2:01<\/time>Iran, U.S. give conflicting messages on peace talks<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\t\t<\/span>
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\u201cBased on where we at the moment are, [gas prices will rise] a couple of cents\/litre, but this is clearly a continually evolving situation, and I\u2019m sure uncertainty will proceed over what direction we head,\u201d GasBuddy petroleum analyst Patrick De Haan said in an announcement sent to Global News on Wednesday.<\/p>\n
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\n\t\t\tMore on Consumer<\/button>More videos<\/button>\n\t\t<\/p>\n<\/p><\/div>\nGlobal crude oil prices are largely determined by expectations of supply and demand. With the Middle East being considered one of the major sources of the world\u2019s oil supply, any escalation in conflict risks jeopardizing that offer.<\/p>\n
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U.S. President Donald Trump\u00a0on Wednesday threatened to attack\u00a0Iran\u00a0again after saying an initial ceasefire take care of the Islamic Republic was \u201cover,\u201d though he has not made clear whether Washington can be returning to full-scale war with Iran.<\/p>\n
This comes after\u00a0the U.S. on Tuesday revoked Iran\u2019s licence to sell oil following reports that three tankers were attacked within the narrow Strait of Hormuz shipping channel.<\/p>\n
Speaking on the sidelines of a NATO summit in Ankara, Trump slammed\u00a0Iranian officials for what he described as not sticking to the deals they negotiated and warned that\u00a0the US will likely engage in additional strikes on Wednesday night after\u00a0U.S. forces carried out attacks\u00a0the day prior to this.<\/p>\n
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Story continues below commercial<\/p>\n<\/p><\/div>\n
\u201cI\u2019ll give a bit warning: We\u2019re going to hit them hard tonight,\u201d Trump told reporters on the NATO summit in Turkey.<\/p>\n
\u2014\u00a0with a file from Reuters<\/em><\/p>\n<\/p><\/div>\n\n
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Descrease article font size Increase article font size Gas prices are likely going to tick up once more in Canada, in line with an analyst, as a signed peace agreement between the U.S. and Iran appears to be unravelling. Oil prices were spiking nearly five per cent Wednesday morning from a day earlier, with the […]<\/p>\n","protected":false},"author":1,"featured_media":363189,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20691],"tags":[6192,6021,15256,1903,17645,4604,4247,1083,1313],"class_list":["post-363188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-canada","tag-gas","tag-iran","tag-national","tag-peace","tag-prices","tag-rise","tag-set","tag-trump"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t