Toronto’s main stock index is showing the effects of another big drop in crude oil prices. The Toronto Stock Exchange’s S&P/TSX composite index was down 68.57 points to 15,395.99, after 90 minutes of trading. The main index had been mildly positive prior to a weekly U.S. government report that showed an unexpected buildup in crude oil inventories — quickly followed by a sharp decline in the TSX energy subindex. The July crude contract was down $2.11 at $46.08 (U.S.) per barrel, the lowest in about a month, after the U.S. Energy Information Administration reported a 3.3 million barrel increase in commercial crude oil inventories instead of a decline. The S&P 500 index added 1.40 points to 2,430.73 and the Nasdaq composite index was up 16.61 points to 6,291.67.

Source: thestar June 07, 2017 15:56 UTC