Oil Price Drop Boosts Canada Stock Futures

Canada's main stock index futures edged higher on Friday as oil prices fell for a third straight session, easing concerns about inflation and supply constraints in the Middle East.

The S&P/TSX 60 index standard futures contract rose by 3 points, or 0.1%, while U.S. stock index futures also gained ground, with the Dow futures contract mostly unchanged and the S&P 500 futures up 12 points, or 0.2%.

The rebound in oil prices was attributed to hopes that Saudi Arabia could soon partially restore flows through its key east-west pipeline, which was damaged in drone attacks last week.

Gold prices also rose, bolstered by the lower oil prices and higher interest rates, with the metal up about 0.9% over the past one-week period.