By MarketsFarm
WINNIPEG, Feb. 18 (MarketsFarm) – The Canadian dollar was steady at market close on Tuesday, as crude oil prices were largely unchanged.
The loonie finished the day at US$0.7543 or US$1=C$1.3258, which compares with Friday’s close of US$0.7548 or C$1.3249.
Benchmark crude oil prices were flat on Tuesday, due to renewed fears over the coronavirus continuing to stymie Chinese demand, and increased shale production in the United States. These were balanced off by reduced oil exports from Libya as a result of its civil war, as well as the March 6 summit between OPEC, Russia and their oil-producing allies, regarding deeper production cuts.
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Brent crude oil was unchanged at US$54.67 per barrel, and West Texas Intermediate (WTI) inched up three cents at US$52.08 per barrel. Meanwhile, Western Canadian Select (WCS) lost 56 cents to close at US$34.79 per barrel.
The TSX/S&P Composite Index made a small gain of 9.98 to finish the day at 17,858.34 points.
Gold jumped US$20.98 on Tuesday to close at US$1,602.11 per ounce.
Canada’s agricultural sector fared as follows:
Buhler Industries unchanged at $ 2.95
Linamar Corp. dn $ 0.98 at $ 41.73
Maple Leaf Foods dn $ 0.48 at $ 25.89
Nutrien Ltd. dn $ 0.07 at $ 54.59
Ritchie Bros Auctioneers Inc. dn $ 0.32 at $ 56.78
Rocky Mountain Dealerships Inc. dn $ 0.10 at $ 6.35
(All figures are in Canadian dollars.)
