Canadian Stocks Take Breather After Rally -- Canadian Commentary

(RTTNews) - Canadian stocks were lackluster Monday, following strong gains from the past two weeks.

Toronto's main index was sharply lower in early dealing but quickly settled into a slightly negative range for the remainder of the session.

At last check, the S&P/TSX Composite Index was down 27.88 points at 13,490.55.

There was little corporate or economic news ahead of the closely watched US Federal Reserve decision scheduled for Wednesday.

Crude oil prices fell from yearly highs amid speculation that increased Iran output will offset a supply freeze by Saudi Arabia and Russia.

WTI crude oil for April settled at $37.18/bbl, down $1.32, or 3.4 percent, the lowest since March 8.

Oil major Encana (ECA.TO) received a first-time 'BBB-' Rating From Fitch, which has a negative outlook on the firm.