Markets

TSX to Open Higher on Oil Boost; BoC Rate Announcement Eyed

Canada's benchmark index may start Wednesday higher, drawing strength from rising oil prices . Investors also await statement from the Bank of Canada regarding its monetary policy. The statement is expected to come out at 10am ET.

Stock futures for the June quarter on the S&P TSX index rose 0.15% at 8.52am ET.

In commodities, Brent crude oil broke past the US$59-per-barrel mark, boosted by ongoing tensions in the Middle East, which brought uncertainty on Saudi Arabia's output. Prices were also supported by forecasts of falling U.S. production.

The TSX added 5 points at closing on Tuesday, kept afloat by energy stocks.

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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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