Crude Oil Prices dropped on Thursday

Source: Producer.com, Dec 30, 2022

WINNIPEG – The Canadian dollar made a small gain on Thursday.

The loonie closed at US$0.7376 or US$1=C$1.3557, up from US$0.7372 or US$1=C$1.3565 on Wednesday. The United States Dollar Index gained 0.36 of a point at 104.54.

Crude oil prices were down on Thursday as U.S. stockpiles rose and fears of lower demand in China due to rising numbers of COVID-19 infections. Brent crude oil lost US$1.00 per barrel to US$82.26. West Texas Intermediate (WTI) crude oil declined US$0.30 at US$78.66/barrel. Western Canadian Select (WCS) stepped back US$0.23/barrel to US$50.75.

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