Canadian Financial Close: Crude oil jumps, TSX falls

Glacier FarmMedia | MarketsFarm – The Canadian dollar made minimal gains on Monday.

The loonie closed at US$0.6939 or US$1=C$1.4411, up from US$0.6934 or US$1=C$1.4422 on Friday. The United States Dollar Index added 0.27 of a point at 109.92. Earlier in the day, the index surpassed the 110-point level for the first time since October 2022.

Crude oil jumped on Monday due to U.S. sanctions on Russian oil. Brent crude oil rose US$1.07 at US$80.83 per barrel. West Texas Intermediate climbed US$2.08 at US$78.65/barrel.

The TSX/S&P Composite Index fell 231.41 points at 24,536.52 on Monday, as investors became less optimistic about potential interest rate cuts from the U.S. Federal Reserve this year.

Gold lost $35.80 per ounce at US$2,679.20.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      up $ 0.05      at $  3.15

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    up  $ 0.55     at $ 55.33

Maple Leaf Foods                 dn  $ 0.18     at $ 21.63

Nutrien Ltd.                     up  $ 3.81     at $ 73.72

RB Global Inc.                   up  $ 0.58     at $128.64

(All figures are in Canadian dollars.)