CLOSING BELL: Slumping oil pushes TSX lower again
Lower oil prices are still taking their toll on the markets.
With possible supply shortages coming out of Venezuela and Iran other OPEC nations are vowing to ramp up their production. The materials group also weighed the TSX down, as it closed 37 points lower at 16,075.
On Wall Street the slumping crude prices are being compounded by uncertainty over North Korea and the ongoing U.S.-China trade spat. The Dow Jones closed down 58 points.
Perhaps there’s some light at the end of the NAFTA tunnel coming soon though, as Mexico’s Secretary of the Economy told reporters today there’s a roughly 40 per cent chance the negotiations get wrapped up before his country’s presidential election on July 1st.
At press time oil is down $2.99 to $67.72 U.S. per barrel, gold is down $3.90 to $1,300.50 an ounce, and the loonie is down just over two thirds of a cent to 77.07 cents U.S.