​Trend of gains ends as oil price plummets

​Trend of gains ends as oil price plummets

​Trend of gains ends as oil price plummets The TSX has ended lower this evening after energy stocks declined with the price of oil plunging to US$74.39 a barrel for Brent crude in New York while West Canada Select ended at $59.83 although it has at times been lower in the past year. US domestic production is at its highest for three decades, driven by supply of shale oil; demand is lower with China requiring less than had been predicted; and OPEC is refusing to cut production. Analysts believe there could be lower prices still to come.

The S&P/TSX Composite index ended down 77.43 (0.52 per cent). The NYSE ended higher. The loonie is around 88c against the US dollar.