Sherritt in Energy SectionThe energy sector was off 2.3 per cent as oil prices fell as demand for gasoline and other fuels continued to slide. The U.S. Energy Department said that crude inventories grew by 5.6 million barrels, or 1.6 per cent, to 366.7 million barrels, which is 16.5 per cent above year-ago levels. That's the highest level since 1990 and more than twice the increase that had been expected.
The May crude contract on the New York Mercantile Exchange declined 26 cents at US$49.15 a barrel. Suncor Inc. (TSX:SU) moved down $1.20 to C$29.50 and EnCana Corp. (TSX:ECA) gave back $2.01 to $52.46.