Wall street blended as oil settles above US$50 a barrel for first time in almost a 12 months

Oil costs settled above US$50 a barrel for the primary time in nearly a year, helping raise the commodity-heavy Toronto inventory market.

The July benchmark settlement for West Texas Intermediate crude closed 67 cents higher to US$50.36.

That’s the first time oil has settled above the usa$50 mark due to the fact that ultimate July.

growing oil prices additionally helped the loonie, which climbed zero.22 of a U.S. cent to seventy eight.30 cents US.

In Toronto, the S&P/TSX composite index turned into up 89.forty five factors at 14,365.61, pushed by using profits in electricity and bank shares.

On Wall road, the Dow Jones business common introduced 17.ninety five factors at 17,938.28, the broader S&P 500 composite index advanced 2.seventy two factors to two,112.thirteen and the Nasdaq composite fell 6.96 points to 4,961.seventy five.

In other commodities, July herbal gasoline turned into down 1.5 cents at US$2.forty five per mmBTU, August gold fell $four to US$1,243.40 an oz and July copper contracts fell 6.eight cents to US$2.05 a pound.