Allan Small quoted in article by Ian Bickis, The Canadian Press | Published Monday, July 16, 2018
Canada’s main stock index closed in the red as a drop in crude prices pushed energy stocks lower, while U.S. stocks were mixed. The August crude contract fell $2.95 or 4.15 per cent to close at US$68.06 after U.S. officials toned down threats against countries and businesses who buy Iranian oil. Treasury Secretary Steven Mnuchin and Secretary of State Mike Pompeo said those who import Iranian oil after sanctions return in November could avoid penalties if they reduce those imports significantly, rather than cut off the trade entirely.