Oil hits market high

Oil hits market high

Oil hit a one-month high as energy stocks helped lift Canada’s main stock index slightly and investors watched for any positive signs from NAFTA negotiations.

The S&P/TSX composite index was up 34.75 points or 0.2 per cent at 16,390.29.

In New York, the Dow Jones industrial average was up 60.55 points at 26,124.57. The S&P 500 index hit an intraday high and was up 16.52 points at 2,914.04, while the Nasdaq composite also hit a new high, rising 79.65 points to 8,109.69 in closing trading.

The Canadian dollar traded down at 77.33 cents US compared with an average of 77.42 cents US on Tuesday.

The October crude contract was up 98 cents at US$69.51 per barrel and the October natural gas contract was up 1.8 cents at US$2.86 per mmBTU.

The December gold contract was down US$2.90 at US$1,211.50 an ounce and the December copper contract was down 2.2 cents at US$2.74 a pound.

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