Forex
Loonie Drops Amid Escalating Middle East Tensions
The Canadian dollar resumed its decline on Thursday after markets reopened following the National Day for Truth and Reconciliation. The loonie finished at US$0.7027, a decrease of nearly a quarter cent from Tuesday's close of US$0.7048.
The US Dollar Index rose by 0.629 points to 101.820. Crude oil prices surged due to concerns about escalating tensions in the Middle East and stalled talks between the US and Iran.
West Texas Intermediate jumped to US$93.18 per barrel, a gain of US$2.76, while Brent crude increased by US$4.49 to US$102.52 per barrel.