Canadian Dollar Unchanged as Oil Prices Soar Amid Middle East Tensions

The Canadian dollar remained relatively stable on Thursday, closing at US$0.7134.

This represents a slight increase from its value on Wednesday of US$0.7130.

However, it's worth noting that the United States Dollar Index also saw an increase of 0.27 points to 99.95.

The price of crude oil rose significantly due to concerns over the Strait of Hormuz, a critical shipping route in the Middle East.

West Texas Intermediate gained US$2.52 per barrel to reach US$77.74, while Brent crude oil rose by US$3.45/barrel to US$82.90.