Energy Sector In Focus Monday -- Canadian Commentary

(RTTNews) - Canadian stocks may struggle Monday morning as oil's overnight rally fizzled out amid a deluge of news from the oil sector.

Raging wildfires continued to interrupt oil sands production in Alberta, but crude oil futures were heading lower near $44 a barrel.

Meanwhile, Saudi Arabia replaced longtime oil minister Ali al-Naimi with Khalid al-Falih, the chairman of state-owned oil company Aramco.

Gold stocks will come under pressure as bullion prices were hurt by a stronger U.S. dollar.

Gold was down 20 dollars at $1273 an ounce, unable to extend recent 15-month highs above $1300.

National Bank (NA.TO) spent $103 million to increase its ownership in a Cambodian bank to 90 percent.

Silver Wheaton Corp. (SLW.TO) revealed a profit for first quarter down 17 percent compared to the same period last year.

The S&P/TSX Composite Index was up 69.46 points, or 0.51 percent, to 13,701.47 on Friday.