TSX Inches Higher Along With Crude Oil -- Canadian Commentary

(RTTNews) - Canadian stocks rose Wednesday, bolstered by rising crude oil prices and speculation the Bank of Canada will keep interest rates on hold.

The TSX Composite Index was up 32 points at 15,509.

Cenovus Energy Inc. (CVE.TO) reported a first quarter loss of $654-million or 53 cents a share compared with a profit of $211-million or 25 cents in the year-ago period.

Airbus SE (EADSY.PK) will scrap Bombardier Inc. (BBD.B.TO) CSeries jetliner branding, Bloomberg reports.

Crude oil futures edged higher Wednesday despite a significant build in U.S. oil inventories.

Crude inventories rose by 2.2 million barrels in the week to April 20, defying expectations for a 2 million barrel drawdown. Gasoline stocks rose by 840,000 barrels.

June WTI oil gained 35 cents, or 0.5%, to settle at $68.05/bbl.