By MarketsFarm
WINNIPEG, Oct. 8 (MarketsFarm) – The Canadian dollar was higher Thursday morning, as crude oil prices were on the rise.
As of 8:42 CDT, the Canadian dollar was at US$0.7552 or C$1.3243, compared to Wednesday’s close of US$0.7533 or C$1.3275.
Benchmark crude oil prices were stronger Thursday morning, due to Hurricane Delta forcing the continued shutdown of oil production facilities in the Gulf of Mexico. The ongoing strike by oil workers in Norway also contributed to oil’s rise.
Brent crude oil gained US$1.09 at US$43.08 per barrel. West Texas Intermediate (WTI) rose US$1.04 at US$40.99 per barrel. Western Canadian Select (WCS) was up 79 cents at US$30.99 per barrel.
At the start of trading, the TSX/S&P Composite Index was up 72.23 points at 16,500.53.
In stepping closer to the US$1,900 mark, gold increased by US$11.63 at US$1,899.06 per ounce.
