By MarketsFarm
WINNIPEG, Sept. 17 (MarketsFarm) – The Canadian dollar lost about three-tenths of a cent on Thursday morning, due to lower crude oil prices.
As of 8:47 CDT, the Canadian dollar was at US$0.7560 or C$1.3222, compared to Wednesday’s close of US$0.7594 or C$1.3168.
Benchmark crude oil prices were lower Thursday morning, as production in the Gulf of Mexico resumed following Hurricane Sally. Concerns about a slow economic recovery also weighed on values. The scheduled OPEC+ alliance meeting to discuss further production cuts tempered further declines.
Brent crude oil was down 22 cents at US$42.06 per barrel. West Texas Intermediate (WTI) lost 33 cents at US$39.83 per barrel. Western Canadian Select (WCS) dropped 43 cents at US$31.96 per barrel.
At the start of trading, the TSX/S&P Composite Index fell 184.91 points at 16,110.75.
Gold sank US$22.59 at US$1,936.67 per ounce.
