Aug 27 (Reuters) – Energy shares lifted Canada’s main stock index at the open on Friday, as oil prices surged on worries about supply disruption, while investors globally turned to remarks by U.S. Federal Reserve Chair Jerome Powell for cues on tightening policy.
At 9:30 a.m. ET (1330 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 53.36 points, or 0.26%, at 20,557.51.
Energy stocks climbed 1.6% after U.S. crude prices rose 2.1% a barrel as energy companies began shutting production in the Gulf of Mexico ahead of a possible hurricane forecast to hit on the weekend. (Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Amy Caren Daniel)