CANADA STOCKS-TSX slips to 1-week low as energy shares drop; Fed eyed

Fri Jul 26, 2013 4:06pm EDT

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TORONTO, July 26 (Reuters) - Canada's main stock index hit a
one-week low on Friday, with weak oil prices fueling a decline
in shares of energy producers and an upcoming Federal Reserve
meeting reviving worries about the U.S. central bank's stimulus
program.
    The Toronto Stock Exchange's S&P/TSX composite index
 unofficially closed down 21.24 points, or 0.17
percent, at 12,647.90. Six of the 10 main sectors on the index
were in the red.
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Comments (1)
Raif wrote:
The price of oil peaked at $109.00 last week and prices at the pump rose to $1.40 a liter except for Metro Vanouver where it sky rocketed to $1.55 a liter for no economic reason what so ever. The price has relaxed to $105/brl today which in no way means the price of oil is crashing as your article infers. The US is now producing 1 million more brls/day than is ever produced at any previous peak, with that impack on the market the price of oi should be $75/brl not $105brl.At these prices the price at the pumps should equal about 1 cent a liter per dollar for the cost of a brl. This also includes the taxes and levies. For example a leading oil executive publicly stated that the price at the pump should track the cost of oil from about the $90 to $110 per barrel. In other words the pump price for $95/brl. oil should be 95 cents inclusive of taxes and levies and a $1.05/liter for oil priced at $105/brl etc, et,etc. Some thing is rotten in the Dominion !

Jul 27, 2013 2:01pm EDT  --  Report as abuse
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