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

Businessman and volunteer named 2019 Citizen of the Year

John Donald’s parents and sister were each honoured previously

School leader named Red Deer Young Citizen of the Year

Leading by example at Hunting Hills High School

Suspects shot at pursuing police during crime spree

No police officers were injured in May 17 shooting

Mental health survey looks at children and youth in Red Deer

Parent and guardians experiences accessing services for children

Respect Day in Red Deer

Sexual Violence Awareness Month in Red Deer

B.C.’s fight to regulate bitumen through pipelines to go to Canada’s top court

BC Appeal Court judges found B.C. cannot restrict bitumen flow along Trans Mountain pipeline

Cast your votes for the Best of Red Deer

Nominations for the Best of Red Deer Readers’ Choice Awards are officially… Continue reading

College Beat: Convocation celebrates success and future possibilities

On June 7, at our Gary W. Harris Canada Games Centre, we… Continue reading

Veer: Public safety is council’s top priority

The number one question that City Council continues to hear from our… Continue reading

Padres knock off Blue Jays 6-3

Padres 6, Blue Jays 3 TORONTO — Hunter Renfroe hit a tiebreaking… Continue reading

Scholarship named in honour of young Lacombe crash victim

Scholarship given to committed Grade 12 teen mentors in the community

O Canada: Hockey hotbed now produces tennis players, too

ROME — It’s typically Canadian that Denis Shapovalov, Felix Auger-Aliassime and Bianca… Continue reading

Proctor back chasing running records after cross-Canada speed attempt

CALGARY — Dave Proctors’ attempted speed record across Canada last summer was… Continue reading

Big names headed to New Mexico to film ‘The Comeback Trail’

SANTA FE, N.M. — Oscar winners Robert De Niro, Tommy Lee Jones… Continue reading

Most Read