By Glen Hallick
Glacier FarmMedia – The Canadian dollar shed about a tenth of a cent on Thursday morning, despite another round of hikes in crude oil.
As of 8:41 am CDT, the Canadian dollar was at US$0.7349 or US$1=C$1.3605 compared to Wednesday’s close of US$0.7360 or US$1=C$1.3587.
On the United States Dollar Index, the greenback added 0.270 of a point at 99.180.
Benchmark crude oil prices continued to rise sharply on Thursday morning, as Iran pressed its attacks on vessels in the Strait of Hormuz. The gains were tempered by the International Energy Administration, announcing on Wednesday that it will release a record 400 million barrels of oil from strategic reserves.
West Texas Intermediate increased US$6.86 at US$94.11 per barrel and Brent crude advanced US$7.28 at US$99.26.
In Thursday morning activity, the TSX/S&P Composite Index dipped 50.86 points at 33,068.97.
Gold was down US$8.00 at US$5,171.10 per ounce.
