S&P/TSX composite down as price of oil falls, U.S. stock markets trade higher

A man walks past a building in Toronto that used to house the Toronto Stock Exchange on Thursday, August 18 2011. THE CANADIAN PRESS/Aaron Vincent Elkaim

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TORONTO - Canada's main stock index was down nearly 150 points in late-morning trading, weighed down by losses in the energy and base metal sectors as the price of oil dropped below US$70 per barrel.

The August crude oil contract was down US$3.46 at US$69.75 per barrel as talks between the U.S. and Iran regarding a permanent end to their war made progress and more ships passed through the Strait of Hormuz.

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