Crude gives up most of its gains
WTI crude rose as high as $49.79 after reports suggesting Saudi Arabia would further lower exports in an effort to get Brent back to $80. The bulk of the export curb was for oil headed to the United States.
After hitting the high, oil has come under some steady downward pressure and futures settled up $0.62 to $48.59.
Here's a three-day chart:
In turn, USD/CAD has recovered a smidge of its lost ground in a rise to 1.3300 from a low of 1.3279. The pair is still down three-quarters of a cent on the day.
