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Canadian Financial Close: Loonie eases off, crude oil retreats

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Glacier FarmMedia | MarketsFarm – The Canadian dollar took a small step back to start the week.

The loonie closed at US$0.7240 or US$1=C$1.3813 on Monday, compared to US$0.7246 or US$1=C$1.3800 on Friday. The United States Dollar Index was down 0.25 of a point at 99.78.

OPEC+’s decision to raise crude oil output by 411,000 barrels per day by June 1 put pressure on prices. Brent crude oil lost US$1.17 at US$60.12 per barrel. West Texas Intermediate dropped US$1.30 at US$56.99/barrel.

The TSX/S&P Composite Index shed 77.99 points at 24,953.52.

Gold surged US$97.50 per ounce at $3,340.80.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  7.29

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    dn  $ 0.58     at $ 51.71

Maple Leaf Foods                 up  $ 0.25     at $ 25.17

Nutrien Ltd.                     dn  $ 0.87     at $ 77.64

RB Global Inc.                   dn  $ 1.44     at $140.27

(All figures are in Canadian dollars.)