Loonie Falls, Crude Oil Surges Amid US-Iran Tensions

The Canadian dollar continued its downward trend against the US dollar on Thursday, reaching a value of $0.7074 or C$1 = $1.4136.

This drop comes as the US Dollar Index reached its highest level in nearly two months, up 0.21 points at 101.30.

The uncertainty surrounding the conflict between the US and Iran contributed to a surge in crude oil prices, with Brent crude rising $2.29 to $105.37 per barrel and West Texas Intermediate increasing by $2.06 to $94.22 per barrel.