Bay Street is feeling the weight of the price of crude. As production is pushed higher to offset losses from Venezuela and Iran, the price has steadily slipped since last week. US crude is currently down to 66.49 a barrel.

The TSX opened lower and is falling 37 points to 16,038.

The Dow is closed today due to the Memorial Day holiday. However, traders will be waiting to see how the recent revival of a US North Korea meeting will impact Wall Street tomorrow.

CIBC and BMO stocks are slipping following reports of customer details being stolen. BMO is expected to release its Q2 earnings report later this week.