Commodities
Canadian Dollar Eases Amid Ongoing Oil Price Decline
The Canadian dollar experienced a slight drop on Wednesday, settling at US$0.7207 or US$1=C$1.3876.
This is compared to its value on Tuesday, which was US$0.7226 or US$1=US$1.3839.
The United States Dollar Index saw a 0.24-point increase to 99.15.
Crude oil prices continued their downward trend due to the agreement between Iran and Oman to establish a shipping lane on the Strait of Hormuz, despite planned maintenance in the Canadian oil sands that will take 300,000 barrels offline in September.
West Texas Intermediate decreased by US$0.45 per barrel to US$81.91, while Brent crude oil lost US$1.13/barrel at US$87.45.