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TSX May Open Higher As Oil Prices Rise

Canada's benchmark index looks set to open higher on Thursday as oil prices rose after the Canada oil sands fire and the violence in Libya. Stock futures for the June quarter on the S&P TSX index edged up 0.14% recently.

Both Brent and the WTI were rising after reports said the wildfire in Canada's oil sands region and the escalating tensions in Libya had investors worried about supply. At last check, Brent was up 4.3% at US$46.53/barrel, while the WTI rose 4.7% to US$45.85/barrel.

The TSX finished Wednesday 75 points lower, with resource and financial stocks leading the decline.

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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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