By Glen Hallick
Glacier FarmMedia – The Canadian dollar continued to fade on Thursday, unable to climb higher on large upswings in crude oil.
The loonie finished at US$0.7344 or US$1=C$1.3617 compared to Wednesday’s close of US$0.7360 or US$1=C$1.3587. On the United States Dollar Index, the greenback advanced 0.520 of a point at 98.500.
Benchmark crude oil prices shot up on Thursday afternoon, as there appears to be end in sight for the Middle East war as Iran pressed its attacks on shipping in the Strait of Hormuz.
West Texas Intermediate gained US$9.10 at US$96.35 per barrel, and Brent crude increased US$9.23 at US$101.21.
The TSX Composite Index gave up 279.23 points on Thursday to finish at 32,840.60.
Gold fell US$83.50 at US$5,095.60 per ounce.
