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TSX May Open Lower on Falling Oil Prices

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Canada's benchmark index looked set to open lower on Monday, dragged down by falling oil prices .

Stock futures for the March quarter on the S&P TSX index slipped 0.01% recently.

Action Economics said the market is correcting after running higher into the weekend's meeting of OPEC and other key producers, which, as expected, affirmed that most of the agreed 1.8 million barrels per day output cut had already been achieved. Brent was last down 1.3% at US$54.77/barrel, while the WTI fell 1.6% to US$52.36/ounce.

The TSX climbed 138 points on Friday, with materials leading the advance.

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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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