Biden and Republicans seek agreement on debt ceiling. US President Joe Biden and Republicans in Congress enter a critical week of debt ceiling negotiations, hoping to find common ground on spending levels and energy regulations to avoid a default that would devastating for the world’s largest economy.
Alberta wildfires: Vermilion Energy cuts production forecast. Vermilion Energy has lowered its production forecast for the current quarter due to a production disruption caused by wildfires in west-central Alberta.
Lower rates delayed by the recovery of the Canadian real estate market? Analysts believe signs of a recovery in the Canadian housing market after a tough year, as rising borrowing costs are expected to slow the rest of the economy, could push up inflation and delay a possible interest rate cut by the Bank of Canada.
Energy and trade: the G7 is considering new sanctions against Russia. G7 leaders plan to tighten sanctions against Russia at their summit in Japan this week, with measures targeting energy and exports that help Moscow’s war effort, officials said. officials with direct knowledge of the discussions.
US pipeline operator ONEOK is extending US$18.8 billion for Magellan. ONEOK on Sunday agreed to buy U.S. pipeline operator Magellan Midstream Partners in a cash and stock transaction valued at approximately US$18.8 billion including debt, which will allow ONEOK, which is focused on natural gas, to embark on the transport of refined products and oil.