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TSX May Open Lower As Oil Prices Slip

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Canada's benchmark index looked set to open lower on Wednesday, with oil prices still under pressure, following Tuesday's sharp sell-off.

Stock futures for the December quarter on the S&P TSX index were down 0.03% recently.

Action Economics said oil was in the red, and the API inventory report revealed 6.5 mln bbl rise in U.S. crude stocks. Expectations had been for a 1.5 million barrel decline. The 10:30 am ET release of EIA inventory figures will be watched for corroboration.

The TSX shed 113 points on Tuesday, with energy 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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