TSX futures dipped after US president Donald Trump stated that Venezuela will supply the US with up to 50 million barrels of oil, potentially displacing Canadian supply and with it the country’s role as the US’s top energy supplier.
Market numbers
TSX: Up (0.58%), 32,407.02.
TSXV: Up (1.30%), 1,033.94.
DOW: Up (0.04%), 49,740.
NASDAQ: Down (0.22%), 25,765.50.
FTSE: Up (0.84%), 10,062.39.
In the headlines
Despite the risk of Venezuelan oil flooding the global market, Charles St-Arnaud, chief economist at Service Credit Union and former Bank of Canada economist, told BNN Bloomberg that only 10 per cent of Canadian oil production is under short-term risk.
However, Prime minister Carney sees this risk ameliorating over the medium to long-term, thanks to the competitiveness of Canadian oil in terms of price, safety and environmental alignment, as per a CBC report on Carney’s statements at a news conference in Paris on Tuesday during a meeting on security in Ukraine.
Currencies
US: Up (0.01%), US$0.7237.
Euro: Up (0.03%), €0.6195.
GBP: Up (0.09%), £0.5364.
AUD: Up (0.13%), $1.0753.
JPY: Down (0.03%), ¥113.345.
Bitcoin: Down (1.86%), US$91,959.87.
(Conversion to C$1)
Commodities
Natural Gas: Up (2.20%), US$3.52.
WTI: Up (0.18%), US$57.11.
Gold: Down (0.94%), US$4,453.02.
Copper: Down (1.54%), US$5.99.
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