Forex
Loonie Hits Lowest Close Since August Amid Oil Price Drop
The Canadian dollar experienced its lowest close since early August on Tuesday.
The loonie finished at US$0.7110 or US$1=C$1.4064, a slight decline from Monday's closing price of US$0.7132 or US$1=US$1.4021.
Meanwhile, crude oil prices continued their downward trend due to reports that the East-West pipeline in Saudi Arabia had partially resumed operations and vessels from Saudi Arabia's Port of Yanbu were set to sail soon.
The West Texas Intermediate price dropped US$1.19 per barrel at US$94.59, while Brent crude oil retreated US$2.06/barrel at US$98.28.