Oil dips below US$30 as Canada’s dollar falls beneath 70 cents U.S.

Crude oil briefly dipped below US$30 a barrel today, hours after the Canadian dollar fell beneath the 70-cent U.S. mark.

TORONTO — Crude oil briefly dipped below US$30 a barrel today, hours after the Canadian dollar fell beneath the 70-cent U.S. mark.

At one point in early afternoon trading, a barrel of West Texas Intermediate was trading for as low as US$29.93 before it regained some ground.

The plunge coincided with the fall of the loonie, which for the first time in nearly 13 years fell below the 70-cent U.S. mark.

Like oil, the currency’s value fluctuates on a second-by-second basis but fell to 69.89 cents U.S. before noon ET.

It was the first time the loonie was below 70 cents U.S. since the spring of 2003, according to Bank of Canada data.

The last time the dollar settled below that threshold was on April 30, 2003, when it closed at 69.76 cents U.S.

Just Posted

Man arrested in 2014 drug bust finally getting sentenced

Convicted drug dealer unsuccessfully tried to get case thrown out because of delays

New trail being developed through North Red Deer woods

This forest belt is known for having rough sleeper camps

Moms visit Red Deer’s overdose prevention site

Moms Stop The Harm meet in Red Deer

Lacombe County land dispute to be resolved

Landowners next to new Kuhnen Natural Area feared trespassing and liability issues

Average fall, cold winter ahead, The Weather Network predicts

Canadians can expect average temperatures this fall that will give way to… Continue reading

WATCH: 2019 Canada Winter Games will leave a lasting legacy, say organizers

It leaves Red Deer with the infrastructure and confidence to host future such events

Your community calendar

Wednesday Central Alberta Historical Society annual general meeting is 6 p.m. at… Continue reading

Opinion: City must aim for zero per cent tax hike

Red Deer city council is discussing the benefits of multi-year budgets, which… Continue reading

NHL players stay with CBA, labour peace set to at least 2022

The National Hockey League will play its next three seasons without the… Continue reading

Tre Roberson, Stampeders edge Tiger-Cats for third win in a row

Stampeders 19 Tiger-Cats 18 CALGARY — A little bit of insight from… Continue reading

Veteran quarterback Harris’s status questionable for Edmonton Eskimos

He’s one of only two CFL quarterbacks to start all of his… Continue reading

Rapid rise of co-working providing needed space as big cities feel crunch

TORONTO — When Rahul Raj was ready to move his small but… Continue reading

No Deal: Auto workers strike against GM in contract dispute

DETROIT — More than 49,000 members of the United Auto Workers walked… Continue reading

CREA reports August home sales up from year ago, raises forecast for 2019

OTTAWA — The Canadian Real Estate Association raised its forecast for home… Continue reading

Most Read