Bay Street Still Skittish As Oil Nears $40 -- Canadian Commentary

(RTTNews) - Bay Street remained in a cautious mood Tuesday morning, as falling crude oil prices continued to weigh on the energy sector.

The S&P/TSX composite index dropped 26.35 points to finish Monday at 14,251.53.

This morning, U.S. crude oil for September was down 30 cents at $41.58 a barrel, near Friday's 6-year low of $41.35.

On the merger front, K+S AG won a major supply deal for its Legacy mine in Canada. This could help the Germany company fend off an aggressive takeover offer from Canada's Potash (POT.TO).

Integra Gold has unveiled a $14.6 Mln investment by Eldorado Gold (ELD.TO).

Barrick Gold Corp. (ABX, ABX.TO) has announced changes to its management structure.

Kelvin Dushnisky, most recently Co-President, has been appointed President. Richard Williams, previously Chief of Staff, has been appointed Chief Operating Officer and will report to Dushnisky.