By Commodity News Service Canada
July 5 (CNS Canada) – The Canadian dollar was trading at 77.11 cents U.S. at 8:42 CDT (C$1.297 per US$1). The loonie closed yesterday at 77.27 cents U.S. (C$1.294 per US$1).
Crude oil ended its run of eight straight sessions of gains, following comments from Russia that it would oppose any production cuts led by OPEC. Although oil prices have risen sharply in the past week, analysts still generally consider it to be a bear market with rising supplies worldwide offsetting production cuts by OPEC countries.
WTI crude was at US$46.54, down 53 cents U.S. this morning, a decline of 1.13 per cent. Brent crude, the global benchmark, fell 1.2 per cent to US$49.01
The S&P/TSX is down 48.60 points (.32 per cent) to 15,082.01 at 8:42 a.m. CDT. The S&P 500 is down 1.88 points at 2,427.13 or .08 per cent. The Dow Jones has fallen 33.34 points this morning. It’s sitting at 21,445.93 for a decline of .16 per cent. The Nasdaq has climbed 9.56 points to 6,119.62, or .16 per cent.
