By MarketsFarm
WINNIPEG, Feb. 19 (MarketsFarm) – The Canadian dollar was slightly higher Wednesday morning as crude oil prices were increasing.
As of 8:38 CST, the Canadian dollar was at US$0.7561 or C$1.3226. That compares to Tuesday’s North American close of US$0.7543 or C$1.3258.
Crude oil prices were up Wednesday morning as the number of new cases of COVID-19 in China has slowed for a second day. Also, the United States has increased its sanctions against Venezuela, making it more difficult for the latter to export its oil.
Brent crude oil gained US$1.13 at US$58.88 per barrel and West Texas Intermediate rose 95 cents at US$53.00 per barrel. Western Canadian Select was up 84 cents at US$35.63 per barrel.
The TSX/S&P Composite Index opened flat with a gain of 4.42 points at 17,862.76.
Gold was up US$2.44 at US$1,604.06 per ounce.
