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Commodities

Canola Futures Plummet with Crude Oil Price Drop

Guavy AI Editorial Team
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Oil
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ICE Canola futures plummeted on Monday morning as crude oil prices took a hit. The decline in crude oil was attributed to the easing of tensions between the US and Iran, with Pakistan urging both sides to return to negotiations with China's support.

The price drop in crude oil led to a decrease in canola futures, with ICE Canola falling by $14.50 per metric ton for November contracts and $15.60 per metric ton for March contracts.

The Canadian dollar also slipped two-tenths of a US cent compared to Friday's close.

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