Oil Spike on Iran War Seen Boosting Canada’s Growth, Inflation
Oil storage containers and pipelines at an oil terminal in Hardisty, Alberta.
Photographer: Jason Franson/BloombergA sustained rise in oil prices would lift Canada’s economic growth and inflation outlook, Bank of Nova Scotia says.
The war in Iran has already pushed petroleum prices higher, which may increase what Canada — a major crude-producing country — earns from exports relative to what it spends on imports.