Oil falls to new six-year low, loonie dips

Oil falls to new six-year low, loonie dips

Oil falls to new six-year low, loonie dips Oil has plunged to a new six-year low on reports of higher levels of supply from the US and Libya. There is also expectation of deal with Iran on its nuclear ambitions which could lead to an end on sanctions; allowing the country to ramp up its oil supplies. Although there has been recovery since US crude fell at one point today to under $43. The Canadian dollar dipped earlier but has also recovered some of its losses.