Forex
Canadian Dollar Steady as Crude Oil Prices Surge Amid Global Tensions
The Canadian dollar has remained steady on Thursday morning, holding its value at the same level as Wednesday's closing rate. At 8:45 a.m. CDT, the loonie was trading at US$0.7207 or US$1=C$1.3876. The United States Dollar Index saw a slight decline of 0.08 points to reach 99.08.
Crude oil prices have surged on Thursday due to ongoing tensions in the Strait of Hormuz and uncertainty surrounding the U.S.-Iran conflict. Brent crude oil has gained US$1.16 at US$89.00 per barrel, while West Texas Intermediate increased by US$0.55 at US$82.78/barrel.