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Canada’s main stock index inched lower Tuesday as oil prices fell on easing geopolitical risks in the Middle East.

The S&P/TSX composite index closed down 8.40 points at 16,502.42.

In New York, the Dow Jones industrial average was down 23.53 points at 27,335.63. The S&P 500 index was down 10.26 points at 3,004.04, while the Nasdaq composite was down 35.39 points at 8,222.80.

The Canadian dollar traded for an average of US76.62¢ compared with an average of US76.69¢ on Monday.

The August crude contract was down US$1.96 at US$57.62 per barrel and the August natural gas contract was down US10.2¢ at US$2.31 per mmBTU.

The August gold contract was down US$2.30 at US$1,411.20 an ounce and the September copper contract was down US1.1¢ at US$2.70 a pound.