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Canadian Financial Close: Loonie higher, crude oil jumps

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Glacier FarmMedia MarketsFarm – The Canadian dollar moved one step upward on Tuesday.

The loonie closed at US$0.7287 or US$1=C$1.3723, compared to US$0.7276 or US$1=C$1.3743 on Monday.

The United States Dollar Index declined 0.05 of a point at 105.27.

Crude oil prices were higher on Tuesday after a Ukrainian drone strike on a Russian refinery as well as the possibility of a war between Israel and Lebanon’s Hezbollah. Brent crude oil rose US$1.15 at US$85.40 per barrel. West Texas Intermediate (WTI) surged US$1.23 at US$81.56/barrel.

The TSX/S&P Composite Index gained 23.42 points at 21,611.30.

Gold advanced US$15.20 at US$2,344.20 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.05

Farmer’s Edge Inc.               unchanged      at $  0.345

Linamar Corp.                    dn  $ 0.55     at $ 66.87

Maple Leaf Foods                 dn  $ 0.07     at $ 22.50

Nutrien Ltd.                     up  $ 0.37     at $ 69.97

RB Global Inc.                   dn  $ 0.50     at $109.87

(All figures are in Canadian dollars.)