Canadian Financial Close: Crude oil prices collapse
By MarketsFarm
WINNIPEG, Oct. 4 (MarketsFarm) - The Canadian dollar fell
to its lowest level since late March on Wednesday.
The loonie closed at US$0.7276 or US$1=C$1.3743, compared
to US$0.7293 or US$1=C$1.3711 on Tuesday. The United States
Dollar Index lost 0.25 of a point at 106.75.
Crude oil prices collapsed on Wednesday with analysts
warning of "demand destruction". However, there was another draw
from United States stockpiles and Saudi Arabia reiterated its
commitment to cut oil output for the rest of 2023. Brent crude
oil lost US$4.70 at US$86.22 per barrel. West Texas Intermediate
(WTI) fell US$4.55 to US$84.68/barrel.
The TSX/S&P Composite Index moved up, adding 13.89 points
to 19,034.81.
Gold shed US$5.20 at US$1,836.30 per ounce.
Canada's agricultural sector fared as follows:
Buhler Ind. up $ 0.28 at $ 2.59
Farmer's Edge Inc. dn $ 0.005 at $ 0.15
Linamar Corp. dn $ 0.31 at $ 64.34
Maple Leaf Foods up $ 0.53 at $ 25.96
Nutrien Ltd. up $ 1.51 at $ 79.91
Ritchie Bros Auctioneers Inc. up $ 1.10 at $ 85.60
(All figures are in Canadian dollars.)
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