Seven ways the war in Iran could affect Canadians, from grocery costs to terrorism [BNN Bloomberg (Canada)]
Toronto Dominion Bank (The) (TD)
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Source: BNN Bloomberg
“This is not going to end any time soon,” said Carleton University defence expert Stephen Saideman. “It's going to be harmful to our economy. It's going to raise the possibility of terrorism. It's going to generate more conflict in the Middle East. And it was completely unnecessary.” As the conflict engulfs the broader Middle East, here are some possible outcomes for Canada. An oil boom? The war is already choking global fuel supplies. One-fifth of the world's oil and liquefied natural gas passes through the Strait of Hormuz, a narrow body of water that Iran has said it will block. U.S. President Donald Trump has responded by suggesting the U.S. will conduct patrols to escort tankers through the strait. In theory, limited oil supply could drive up prices and demand for Canadian crude. That might lead to a stronger Canadian dollar and a boost to the economy. It could also leave shippers passing higher fuel costs on to consumers. TD Bank economist Marc Ercolao said in a
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