TSX May Open Lower, Hurt by Oil Prices

TSX May Open Lower, Hurt by Oil Prices

Canada’s benchmark index looked set to open lower on Thursday, dragged down by falling oil prices .

Action Economics said oil was under pressure after weekly API data showed a 3.1 million barrel rise in U.S. stocks in the last reporting week, which sparked the correction, offsetting threats from Trump to impose sanctions on Iranian oil, and possible supply disruptions in Venezuela. Prices were also hurt by the dollar, which rallied briefly following the mix of data, where core PPI was warmer than expected, and jobless claims were a bit lower than forecasts.

The TSX gained 30 points on Wednesday, with healthcare leading the advance.

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