Bbc World News: what's happening and what it means

Brent crude futures hit $126.41 on Thursday - a 5 percent rise for the week. Bbc World News has emerged this Friday as one of the stories drawing attention in Canada.

Key facts

• Brent crude futures hit $126.41 on Thursday - a 5 percent rise for the week.
• Overall, the Brent benchmark was poised for a 5.7 percent gain over the week, the Reuters news agency reported.
• A Pakistan-brokered ceasefire between the US and Iran has been in place since April 8 to allow time for talks but on Thursday evening, Iranian Foreign Ministry spokesperson Esmaeil Baghaei said it was unreasonable to expect quick results, the official IRNA news agency reported.
• The price of Brent crude oil briefly surged past $126 US a barrel early Thursday before coming back down as stalled U.S.-Iran talks raised doubts over the reopening of the Strait of Hormuz and a permanent end to the Iran war.
• Prices briefly rose about $126 US, the highest since March 2022.

What we know

Going deeper, Overall, the Brent benchmark was poised for a 5.7 percent gain over the week, the Reuters news agency reported.

On the substance, a Pakistan-brokered ceasefire between the US and Iran has been in place since April 8 to allow time for talks but on Thursday evening, Iranian Foreign Ministry spokesperson Esmaeil Baghaei said it was unreasonable to expect quick results, the official IRNA news agency reported.

Beyond the headlines, the price of Brent crude oil briefly surged past $126 US a barrel early Thursday before coming back down as stalled U.S.-Iran talks raised doubts over the reopening of the Strait of Hormuz and a permanent end to the Iran war.

More precisely, Prices briefly rose about $126 US, the highest since March 2022.

It is worth noting that ‌U.S. ‌President Donald ‌Trump on Thursday signed ​an ​order ‌authorizing ⁠the Bridger Pipeline’s proposed ⁠project to transport ⁠Canadian crude ​from ‌the U.S.-Canada ⁠border to ⁠Wyoming.

By the numbers

At this stage, Ontario woman ‘baffled’ her mother’s retirement home costs rose by 28 per cent in four years.

On a related note, Gas prices pass $2/L once again at many Montreal stations.

Going deeper, Canadiens look to finish off Lightning in Game 6 of hard-fought playoff series.

On the substance, Algoma University’s $16M deficit forces tough decisions, including layoffs.

What they're saying

“Expecting to reach a result in a short time, regardless of who the mediator is, in my opinion, is not very realistic,” he was quoted as saying.

“The longer this vital artery is choked, the harder it will be to reverse the damage,” he told reporters in New York on Thursday.

The wider context

On a related note, Iran to play World Cup games in United States: FIFA president.

Going deeper, Minister says B.C. expects billions from feds for forestry if U.S. talks fail.

On the substance, Liberals shut down committee debate on $6.6-billion IT project.

Beyond the headlines, Colgate-Palmolive warns of $300M cost hit from Middle East conflict.

More precisely, Imperial Oil reports $940M first-quarter profit, down from $1.29B a year earlier.

The bottom line

• A Pakistan-brokered ceasefire between the US and Iran has been in place since April 8 to allow time for talks but on Thursday evening, Iranian Foreign Ministry spokesperson Esmaeil Baghaei said it was unreasonable to expect quick results, the official IRNA news agency reported.
• The price of Brent crude oil briefly surged past $126 US a barrel early Thursday before coming back down as stalled U.S.-Iran talks raised doubts over the reopening of the Strait of Hormuz and a permanent end to the Iran war.
• ‘Mormon Wives’ star Taylor Frankie Paul and ex-partner ordered to stay 30 metres apart.
• Searches spiking right now: Hegseth says clock paused on deadline to seek approval for Iran war, Billions of meals at risk due to Iran war, says fertiliser boss, It's not just oil: Why Iran war also threatens Asia's food security, Pickleball and protests: Trump visit stirs up world's largest retirement community.