By MarketsFarm
WINNIPEG, June 7 (MarketsFarm) – The Canadian dollar was stronger Friday morning on gains in crude oil prices.
As of 8:39 CDT, the Canadian dollar was at US$0.7522 or C$1.3290. That compares to Thursday’s North American close of US$0.7475 or C$1.3378.
Crude oil prices were higher this morning, as Saudi Arabia’s energy minister commented yesterday that US$60 per barrel was too low. In turn, OPEC and Russia may extend their oil production cuts beyond the end of June, shortening global supplies.
West Texas Intermediate crude oil was up 12 cents at US$52.71 per barrel, while Brent crude oil was up 24 cents at US$61.91 per barrel.
At the start of trading the TSX/S&P Composite Index was up 8.92 points at 16,236.72 points.
Gold was up US$4.20 at US$1,344.00 per ounce.
