Canada Blockade Sends Oil Prices Soaring Amid Global Trade Disruptions

Robin J Brooks discusses the recent blockade of oil exports from Canada and its impact on global markets. The blockade has led to a surge in oil prices, with Brent crude trading at around $90 per barrel.

The Canadian Dollar has also been affected by the situation, with a weakening currency contributing to higher import costs for Canadian businesses.

Brooks notes that the blockade is not just an issue for Canada, but also for global markets as it affects oil prices and trade flows. He emphasizes that this is not a one-off event, but rather part of a broader trend of disruptions in global supply chains.