By Glen Hallick
Glacier FarmMedia – The Canadian dollar pushed higher on Monday morning, as crude oil continued surge upward.
As of 8:35 am CST, the Canadian dollar was at US$0.7375 or US$1=C$1.3563, compared to Friday’s close of US$0.7346 or US$1=C$1.3613.
On the United States Dollar Index, the greenback added 0.191 of a point at 98.900.
Benchmark crude oil prices continued their sharp climb on Monday morning, as the Iran war threatens Middle East supply.
West Texas Intermediate jumped US$8.44 at US$99.34 per barrel and Brent crude advanced US$9.41 at US$102.10. During the weekend, crude prices were nearly US$120/barrel before pulling back.
In Monday morning activity, the TSX/S&P Composite Index dropped 362.30 points at 32,721.42. Gold gave up US$60.30 at US$5,098.40 per ounce.
