Oil prices have lost some of the momentum of the past week bringing losses in the energy sector. The lower prices reflect concern that US stockpiles will increase with demand still low. The Fed’s latest minutes failed to impress many investors with many now believing there will be no rate rise until the fourth quarter if at all this year. Greece continues to be on the minds of markets worldwide; the country had been expected to ask for an extension of its loan agreement today but it has now said it will do so tomorrow although Germany may try to block the move.
The S&P/TSX Composite Index closed down 71.86 (0.47 per cent)
The NYSE closed lower
Oil is trending lower (Brent $60.21; WTI $52.14 at 4.10pm)
Gold is trending higher
The loonie is valued at U$ 0.80506 (4.10pm)