By MarketsFarm
WINNIPEG, Sept. 26 (MarketsFarm) – The Canadian dollar was higher Thursday morning, despite losses in crude oil and a flat Toronto Stock Exchange.
As of 8:52 CDT, the Canadian dollar was at US$0.7550 or C$1.3245. That compares to Wednesday’s North American close of US$0.7536 or C$1.3270.
Crude oil prices were lower Thursday morning after the United States levied penalties on four Chinese oil tanker companies that were shipping Iranian crude. The U.S. imposed economic sanctions against Iran and waivers to those sanctions expired in May. China deemed the U.S. move to be bullying.
Brent crude was down 34 cents at US$62.05 and West Texas Intermediate crude was down 69 cents at US$55.80 per barrel. Western Canadian Select crude lost 87 cents at US$42.89 per barrel.
At the start of trading on Thursday, the TSX/S&P Composite Index was flat with a loss of 0.12 points at 16,784.17.
Gold was up US$4.70 at US$1,517.00 per ounce.
