Canadian Dollar, Crude Oil Prices Slip on Thursday

The Canadian dollar retreated on Thursday morning as crude oil prices dropped due to softening demand.

Crude oil inventories were reported larger by both the American Petroleum Institute and the U.S. Energy Information Administration, leading to a decrease in Brent crude oil to US$86.74 per barrel, down from US$2.24, and West Texas Intermediate fell to US$80.91/barrel, down from US$2.36.

The TSX/S&P Composite Index was up 9.68 points at 36,671.82, while the United States Dollar Index dropped by 0.12 of a point at 99.89.