Reports that Saudi Arabia and Iran are making little progress on a deal to cut oil production deflated energy prices Friday, sending North American markets into the red. That sent energy prices plummeting, with the November crude oil contract down $1.84 cents to $44.48 US per barrel. "Nothing will be decided and it certainly won't be binding," said John Stephenson, president and CEO of Stephenson & Co. Capital Management. A preliminary reading of the U.S. manufacturing purchasing managers index slipped to 51.4 in September — its lowest reading since June. The federal agency said Canada's annual inflation rate was 1.1 per cent last month, largely due to lower fuel prices.

Source: CBC News September 23, 2016 20:59 UTC