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TSX Set for Positive Start As Oil Prices Rise

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Canada's benchmark index looked set for a strong start on Friday, drawing strength from rising oil prices .

Stock futures for the March quarter on the S&P TSX index were up 0.1% recently.

Oil prices edged up early on Friday, with North America's benchmark rising ahead of the release of weekly inventory and supply data. The US Energy Information Administration will release its weekly look at U.S. oil inventories, supply and production and 10:30 ET, a release normally issued Wednesday but delayed by the Christmas holiday. The report follows on Thursday's release of inventory data from the American Petroleum Institute, which showed a rise of 6.9 million barrels in U.S. crude inventories.

Investors will keep an eye on Aphria (APHA.TO), which said that based on the 20-day volume weighted average price of Green Growth Brands shares and the expressed exchange ratio of 1.5714 common shares of Green Growth Brands for each Aphria share, Green Growth Brands' proposed bid would be approximately 23% below the company's average share price over the same period.

The TSX surged 385 points on Thursday, paced by tech and energy issues.

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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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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