By MarketsFarm
WINNIPEG, April 24 (MarketsFarm) – The Canadian dollar was firm Friday morning as crude oil prices incurred small gains.
As of 8:48 CDT, the Canadian dollar was at US$0.7110 or C$1.4065, compared to Thursday’s close of US$0.7111 or C$1.4063.
Benchmark crude oil prices were slightly higher Friday morning, as Kuwait and Algeria announced they’re cutting oil production before the multilateral deal between OPEC, Russia and the G20 kicks in. However, global crude stocks remain high, putting a lid on further gains.
Brent crude oil increased 89 cents at US$22.22 per barrel. West Texas Intermediate (WTI) rose US$1.13 at US$17.63 per barrel. Western Canadian Select (WCS) gained 33 cents at US$8.42 per barrel.
At the opening, the TSX/S&P Composite Index was up 87.94 points at 14,339.03.
Gold was up US$2.12 at US$1,732.64 per ounce.
