Skip to main content

Featured

5 Things to Know Today: BoC Hike Odds Near 80%, Oil Tops US$100, Loonie Hits 5-Week High

  Canadian Money Brief  |  Saturday, October 24, 2026 The Bank of Canada is expected to raise rates on Wednesday, oil is back above US$100 and stocks slipped on AI worries. Here are the five things to know this Saturday, and what each one means for your wallet. 1 The Bank of Canada is widely expected to hike on Wednesday Markets are putting roughly an 80% chance on a quarter-point increase at the Bank of Canada’s Oct. 28 decision, which would lift the policy rate from 2.25% to 2.50%. A majority of economists polled by Reuters also expect a second hike by the end of March. The shift followed hawkish comments from Governor Tiff Macklem about a higher inflation outlook driven by oil. What it means for you Every 0.25-point increase adds about $250 a year (roughly $21 a month) for each $100,000 of prime-linked debt, such as a variable-rate mortgage or HELOC. Fixed-rate holders are not hit directly, but renewals are being priced off higher bond yields. Savers may see HISA and...
Post a Comment
Read more

article

Labels

ExxonMobil’s Ionian Sea Deal Strengthens U.S. Energy Role in Europe

Under the deal, Exxon will partner with Energean, whose flagship gas fields are located offshore Israel, and Helleniq to explore for natural gas in Block 2 offshore Western Greece.

ExxonMobil has taken a significant step into the eastern Mediterranean energy landscape by signing a new agreement to explore for natural gas offshore Greece. The deal marks a strategic expansion of the U.S. energy footprint in the region at a time when Europe is seeking alternatives to Russian gas supplies.

Under the agreement, ExxonMobil will partner with Energean and Helleniq Energy to explore Block 2 in the Ionian Sea, located northwest of Corfu. The concession covers more than 2,400 square kilometers and is considered one of Greece’s most promising offshore prospects. Preliminary estimates suggest potential reserves of up to 200 billion cubic meters of natural gas, though exploratory drilling will not begin until late 2026 or early 2027.

For Greece, the agreement is seen as a vote of confidence in its role as a regional energy hub, boosting its geopolitical importance while potentially unlocking new domestic resources. Energean will remain the operator during the exploration phase, but ExxonMobil is expected to assume control if commercial discoveries are made.

This move underscores ExxonMobil’s global strategy of diversifying its exploration portfolio while aligning with U.S. energy diplomacy. If successful, the Ionian Sea project could reshape the energy map of southern Europe, offering both economic and strategic benefits to Greece and its partners.



Labels:

Comments

Post a Comment