Canadian Dollar Falls Amid Oil Price Surge

The Canadian dollar continued its downward trend on Thursday morning, falling below Wednesday's close.

As of 8:40 am CDT, the Loonie was trading at US$0.7233 or US$1=C$1.3830, a drop from US$0.7247 or US$1=C$1.3798 on Wednesday.

The decline in the Canadian dollar comes as the United States Dollar Index added 0.266 of a point at 98.825.

Crude oil prices surged higher, with West Texas Intermediate jumping US$4.07 at US$100.12 per barrel and Brent crude surging US$4.12 at US$105.33/barrel, due to the ongoing conflict in the Middle East.