Canadian Stocks Weak In Early Trading -- Canadian Commentary

(RTTNews) - Canadian stocks opened lower Friday, with energy shares coming under pressure due to falling oil prices.

OPEC supplies reached the highest level since August 2012 in May, according to the latest oil market report from the International Energy Agency (IEA).

The news sent U.S. crude oil down to near $60 a barrel, pushing energy stocks down 1 percent.

Meanwhile, a spike in U.S. producer prices renewed expectations the Federal Reserve will soon raise interest rates.

Financials are lower by 0.8 percent.

The benchmark S&P/TSX Composite Index was down 52 points at 14776.98. The index closed Thursday at 14,830.88, down 58.16 points or 0.39 percent.

In corporate news, Canadian Natural Resources and Cenovus both said oil-sands operations have resumed after a Alberta wildfire.

Reuters reports BlackBerry may put Android system on a new device.