TSX May Open Lower As Oil Slides on Inventory Data

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Canada's benchmark index looked set to open lower on Wednesday, with oil prices under pressure from increasing crude inventory.

Stock futures for the March quarter on the S&P TSX index were down 0.6% recently.

Action Economics said NYMEX crude remained heavy overnight, following the API inventory report, which showed a larger-than-expected 3.9 million barrel weekly stock build. Expectations were for about a 2.5 million barrel increase. Gasoline stocks rose more than forecast as well.

The TSX has shed 25 points on Tuesday, dragged down mostly by energy and consumer discretionary shares.

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This article appears in: Investing , Stocks

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