Glacier FarmMedia COVID-19 & the Farm

Global Markets: Ukrainian flight crashes in Tehran, killing 63 Canadians

By MarketsFarm

WINNIPEG, Jan. 8 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– A Ukraine International Airline flight crashed near Iran’s capital last night. The crash killed all 176 passengers and crew, including 63 Canadians. The plane crashed shortly after taking off from the Tehran airport. Iranian officials have said the crash was caused by a mechanical issue and was unrelated to increasing tensions in the region. The crash occurred hours after Iran launched a missile attack on Iraqi bases that housed United States military personnel.

– Iranian military forces have retaliated against the U.S. military killing general Qassem Soleimani by firing missiles at an Iraqi military base that housed U.S. soldiers. Iran’s Supreme Leader Ayatollah Ali Khamenei has said that U.S. troops should leave the region. On Tuesday night, U.S. President Donald Trump tweeted that “all is well” and an official statement was forthcoming. According to CBC, U.S., Iraqi, and Canadian officials said there were no casualties, but Iranian state TV said 80 “American terrorists” were killed. Some U.S. officials declined to comment.

– The Organization of Petroleum Exporting Countries and its allies are monitoring the increased tensions between the U.S. and the Middle East. Oil prices have been volatile over the past few days, but OPEC+ is not concerned about global supply levels. “We are not forecasting a shortage of supply unless we have a catastrophic escalation, which we don’t see,” Al Mazrouei said to Bloomberg.


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