Canada’s benchmark index looked set to open higher on Wednesday, helped by rising oil prices .
Stock futures for the December quarter on the S&P TSX index were up 0.1% recently.
Action Economics ( AE ) said oil prices climbed following API inventory data, which revealed a 7.1 million barrel decline in U.S. crude inventories, versus expectations for a 4 million barrel draw. That, along with Iraqi forces taking control of Kurdish oil facilities in Northern Iraq, threatening supply, continue to support prices, AE added.
The TSX gained 14 points on Tuesday, with utilities and telecoms leading the advance.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.