TORONTO – The Toronto stock market was lower in the close as crude prices fell amid fresh comments from Iran it provides to increase oil production.
The S&P/TSX composite index was down 44.46 points at 13,477.54 since the resource-heavy market didn’t gain traction within the big rally that capped trading last week.
The Canadian dollar fell 0.21 of the U.S. cent to 75.37 cents US as investors awaited the most recent policy rate announcement Wednesday inside the Fed, which raised its benchmark rate the first time in almost 10 years in December.
U.S. indexes were mixed after exchanging a narrow range, while using Dow Jones edging up 15.82 suggests 17,229.13. The Nasdaq added 1.81 suggests 4,750.28, since the broader S&P 500 shed 2.55 suggests 2,019.64.
In commodities, the April deal for benchmark Usa oil slumped $1.32 to US$37.18 a barrel after Iran’s oil minister dismissed the thought of a production cap, saying his country will keep increasing output until it reaches pre-sanctions levels of 4 million barrels each day.
Elsewhere, April gold was down $14.30 at US$1,245.10 a troy ounce, while April gas was unchanged at US$1.82 per mmBtu. May copper seemed to be barely changed at US$2.24 a pound.
