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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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks



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