Tsx Flat In Quite Trade -- Canadian Commentary

(RTTNews) - Canadian stocks were flat Monday amid continued trade squabbles between the US and Canada.

The TSX Composite Index was up 8 points to 16,052, failing to join a rally in US stocks.

Crude oil prices continued to fall sharply, marking the lowest finish in about two months.

A stronger dollar and rumors that OPEC will exit its supply quota plan have driven oil prices into the ground over the past week or so.

July WTI oil was down $1.06, or 1.6%, to settle at $64.75/bbl. That's the lowest since April 9.

The IMF today warned Canada about its high tax rates at a time where the US is threatening high tariffs.

"It is time for a careful rethink of corporate taxation to improve efficiency and preserve Canada's position in a rapidly changing international tax environment," the IMF said.