CANADA STOCKS-TSX futures drop as oil prices slump [Reuters]
Kirkland Lake Gold Ltd. Common Shares (KL)
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Source: Reuters
CANADA STOCKS-TSX futures drop as oil prices slump March 11 (Reuters) - Canada’s main stock index futures fell on Wednesday as crude prices dropped sharply after Saudi Arabia said it plans to boost oil production capacity for the first time in more than a decade. With the collapse of coordinated output cuts by Saudi Arabia, Russia and others, the Saudi energy ministry has directed producer Saudi Aramco to raise its output capacity to 13 million from 12 million barrels per day (bpd). Oil prices were also under pressure after U.S. crude oil inventories rose in the most recent week, while gasoline and distillate stocks fell, American Petroleum Institute data showed. March futures on the S&P/TSX index were down 2.63% at 7:00 a.m. ET. The Toronto Stock Exchange’s S&P/TSX index ended 3.06% higher at 14,958.09 on Tuesday. Dow Jones Industrial Average e-mini futures were down 1.99% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 2.15% and Nasdaq 100 e-mini futures were down 1.95%. Tor
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