Canadian Dollar Dips as Crude Oil Prices Continue Decline
The Canadian dollar experienced a slight dip on Wednesday, closing at US$0.7207 or US$1=C$1.3876 compared to Tuesday's finish of US$0.7226 or US$1=US$1.3839.
Crude oil prices continued their decline, with West Texas Intermediate dipping by US$0.45 per barrel at US$81.91 and Brent crude oil erasing US$1.13/barrel at US$87.45.
The planned maintenance in the Canadian oil sands is expected to take 300,000 barrels of crude offline in September.