WINNIPEG, July 19 (MarketsFarm) – The Canadian dollar was virtually unchanged at market close on Friday, following strong crude oil prices.
The loonie finished the day at US$0.7651 or US$1=C$1.3071, which compares with Thursday’s close of US$0.7652 or C$1.3069.
Benchmark oil prices were stronger Friday, as tensions remained high in oil-producing regions in the Middle East. Iran has claimed to have seized a British oil tanker in the Persian Gulf near the Strait of Hormuz.
Brent crude oil was up US$1.31 to close at US$63.15 per barrel. West Texas Intermediate (WTI) crude oil was also stronger by 87 cents to close at US$56.11 per barrel.
As of July 18, Western Canadian Select (WCS) crude oil was down US$6.81 at US$40.86 per barrel. On Thursday, the WCS/WTI price differential was up US$5.33 at US$14.44 per barrel.
The TSX/S&P Composite Index was down 8.29 points on Friday and finished at 16,485.94.
Canada’s agricultural sector fared as follows:
Buhler Industries unch at $ 3.20
Linamar Corp. up $ 0.65 at $ 44.24
Maple Leaf Foods dn $ 0.02 at $ 29.65
Nutrien Ltd. up $ 0.71 at $ 67.27
Ritchie Bros Auctioneers Inc. up $ 0.05 at $ 47.23
Rocky Mountain Dealerships Inc. dn $ 0.03 at $ 7.35
(All figures are in Canadian dollars.)