Compiled by Glen Hallick, MarketsFarm
WINNIPEG, March 25 (MarketsFarm) – The Canadian dollar was higher on Friday, due to increases in crude oil prices.
The loonie closed at US$0.7999 or US$1=C$1.2502, compared to Thursday’s close of US$0.7971 or US$1=C$1.2545.
On the United States Dollar Index, the greenback nudged up 0.060 of a point at 98.860.
Benchmark crude oil prices were slightly higher on Friday, following a drone attack by Houthi rebels from Yemen upon oil production facilities in Saudi Arabia. Those increases were tempered by reports of the Biden administration set to release more oil from U.S. strategic reserves.
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Brent crude oil gained 25 cents at US$119.28 per barrel. West Texas Intermediate (WTI) crude oil rose 34 cents at US$112.68 per barrel. Meanwhile, Western Canadian Select (WCS) jumped US$1.70 at US$101.81 per barrel.
The TSX Composite Index made a small gain on Friday of 65.05 points to finish at 22,005.94.
Gold was down US$7.30 at US$1,960.40 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.70
Farmers Edge Inc. dn $ 0.06 at $ 2.93
Linamar Corp. dn $ 0.83 at $ 55.29
Maple Leaf Foods up $ 0.06 at $ 29.28
Nutrien Ltd. up $ 1.23 at $135.12
Ritchie Bros Auctioneers Inc. dn $ 0.22 at $ 73.43
(All figures are in Canadian dollars.)
