Oil prices slipped back on Wednesday as the supply glut increased. Yesterday Saudi Arabia reported record production in March and today figures showed the level of US production was at a 14-year high. Energy stocks receded however other sectors helped keep the Toronto Stock Exchange above water. In Asia most indexes closed with gains as Japan’s central bank held firm on stimulus and the country’s economy improved. European markets closed flat.
The S&P/TSX Composite Index closed up 24.76 (0.16 per cent)
The NYSE closed higher
Oil is trending lower (Brent $56.07, WTI $50.92 at 4.30pm)
Gold is trending lower
The loonie is valued at U$0.7970 (at 4.30pm)