Global Markets: Crude oil dips after months of gains

WINNIPEG, April 15 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.

– Canadian cannabis company Aphria Inc. posted a loss of $108.2 million in its third quarter in 2018. Officials cite a “A $50-million non-cash impairment on its Latin American assets weighed on Aphria’s bottom line,” according to reports. “We continue to take decisive actions to increase efficiency, including investing additional capital in automation and packaging and adapting production to a new growing method,” said Aphria chairman and interim chief executive Irwin Simon in a press release on Monday.

– Some United States farmers are concerned that their livelihoods will be little more than collateral damage in the midst of President Donald Trump’s trade war with China. Many producers are reacting to signs that the Trump administration would accept Chinese purchase target pledges for commodities like soybeans and pork without a promise to lift retaliatory tariffs, according to Bloomberg. “This is of great concern to producers out here facing another year of tariffs,” said Mark Powers, president of the Northwest Horticultural Council, which represents cherry, pear and apple growers in the Pacific Northwest. “We’re disappointed. Clearly the priority lies elsewhere.” China and the U.S. trade talks should be finalized by May.

– Crude oil prices dipped after weeks of gains, as investors awaited confirmation of the strength of the global economy. Global finance ministers and central bankers issued a statement over the weekend that they’re willing to “act promptly” to shore up global growth, which the International Monetary Fund expects will be the weakest in a decade, according to reports. Experts are looking ahead to China releasing data on gross domestic production for the first quarter on April 17.

– Reports indicate WiliLeaks founder Julian Assange repeatedly violated his asylum conditions in the Ecuadorian embassy, including using the centre for spying. Assange’s relationship with the Ecuadorian embassy collapsed after he was accused of leaking information about President Lenin Moreno’s personal life. CNN reported Assange’s cat (known as Michi), who lived in the embassy with Assange since 2016, is safe and in good spirits. “We can confirm that Assange’s cat is safe. Assange asked his lawyers to rescue him from embassy threats in mid-October. They will be reunited in freedom,” according to reports from Wikileaks.

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