TSX Set to Decline with Oil
Canada's benchmark index looks set to open lower on Thursday, weighed down by oil prices . Stock futures on the S&P TSX index edged down by 0.06% recently.
Oil fell on Thursday after concerns over the ongoing crisis in the Middle East escalated faded and focus returned to supply. OPEC reportedly said it will not cut production despite the current imbalance between supply and demand. Reports even said some members of the cartel are worried that prices might slide to US$20/barrel. At last check, Brent crude was down 1.19% at US$45.62/barrel.
Trading is expected to be thin, with U.S. markets closed for the Thanksgiving holiday.
The TSX closed down by 4 points on Wednesday, with healthcare and consumer stocks limiting the decline.
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