There will be a loss in the energy department that will put pressure on TSX as oil is fall, SA also down Business

TORONTO – A sharp impact on oil prices Friday is Friday, break over the wider energy sector and into the wider market to bring North America recordings into red.

The loss of US $ 4.21 or 8.3 per cent in low price to $ 50.42 – the lowest rate in more than a year – after Saudi Arabia said he hit a showcase.

The Saudi news was scared in an energy market after the US inventories rose up earlier this week and gave signs out of Europe and elsewhere to slowly slow on global growth.

"These three have been a huge amount of oil prices, this week," said Candice Bangsund, regional manager for Fiera Capital.

"Throughout the week, we had many investments about global energy supply, as the increase in Wednesday in US stocks, which rises for the ninth continuous week, and clearly ongoing concerns regarding global demand. "

The decline in low prices on markets in general said, Bangsund said.

"That's spread into the entire market, so not just the energy area, but the general product area, and just just threatens the risk in the market. "

The S & P / TSX index closed down to 80.85 points at 15,010.73, with a 4.7% fall in its & # 39; energy energy record.

The comparative index of sales was as low as 14,900.32 per day with an estimated 155 million shares,

On a shorter trading day in New York, Dow Jones's business average closed 178.74 points at 24,285.95. The S & P 500 index closed to 17.37 points at 2,6432.56, and the Nasdaq company closed 33.27 points at 6,938.98.

"From a technical perspective, only a lot of insolvency, and investments, or markets are very strange about the markets and prices," said Bangsund.

It was 75.60 pence in the US in Canada, down 0.13 of more of the US from Thursday.

Loonie dropped how the US dollar increased safely, and energy prices were lower than better than statistics from Statistics Canada, Bangsund said.

"The economic data out of Canada in the morning was very positive and was higher than expected, both on retail sales and at the forefront of inflation."

The December natural gas contract ended 12 pounds at US $ 4.36 per mmBTU.

The December gold contract closed down US $ 4.80 at US $ 1,223.20 units and December copper contract closed three pence at US $ 2.77 pounds.

John Bickis, Press of Canada

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