TSX down as oil prices fall on easing tensions with Iran

U.S. markets also closed lower on Tuesday

Canada’s main stock index inched lower Tuesday as oil prices fell on easing geopolitical risks in the Middle East.

The S&P/TSX composite index closed down 8.40 points at 16,502.42.

In New York, the Dow Jones industrial average was down 23.53 points at 27,335.63. The S&P 500 index was down 10.26 points at 3,004.04, while the Nasdaq composite was down 35.39 points at 8,222.80.

The Canadian dollar traded for an average of US76.62¢ compared with an average of US76.69¢ on Monday.

The August crude contract was down US$1.96 at US$57.62 per barrel and the August natural gas contract was down US10.2¢ at US$2.31 per mmBTU.

The August gold contract was down US$2.30 at US$1,411.20 an ounce and the September copper contract was down US1.1¢ at US$2.70 a pound.