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TSX ends down 0.1% at 23,003.09

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Energy falls for seventh straight day

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Oil settles at lowest since December 2021

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Materials group gains 1.4%

(Updates at market close)

By Fergal Smith

Sept 10 (Reuters) - Canada's main stock index fell on

Tuesday as a drop in oil prices weighed on energy shares, but

the move was limited as Wall Street closed higher ahead of a key

inflation report.

The S&P/TSX composite index ended down 24.06

points, or 0.1%, at 23,003.09.

The decline was driven by "the big sell-off in the price of

oil," said Colin Cieszynski, chief market strategist at SIA

Wealth Management.

There are "fears of a slower economy, fears of a reduced

demand for energy and we're seeing that show up in the oil price

in particular and then that's dragging the stocks down with it,"

Cieszynski said.

U.S. crude oil futures settled at the lowest level since

December 2021, falling 4.3% to $65.75 a barrel, as OPEC+ revised

down its demand forecast for this year and 2025.

The energy sector was down 2.3%, its seventh straight day of

declines, with Precision Drilling ( PDS ) falling 4.7% and

Canadian Natural Resources ( CNQ ) ending 3.5% lower.

Energy pipeline operator Enbridge ( ENB ) has pulled

employees from several offshore U.S. Gulf of Mexico platforms,

the company told customers, as Tropical Storm Francine advanced

toward a landfall in Louisiana. The company's shares were down

nearly 1%.

Alimentation Couche-Tard ( ANCTF ) shares also lost ground,

falling 1.4%. The U.S. Federal Trade Commission has notified

Seven & i ( SVNDF ) of its intention to investigate a potential

takeover of the convenience store chain by Couche-Tard over

antitrust concerns, a source familiar with the matter said.

The focus for many investors continued to be the U.S.

inflation report for August, due on Wednesday, which could

reinforce expectations the Federal Reserve would begin an

interest rate cutting campaign later this month.

Technology added 0.8% and the materials group, which

includes fertilizer companies and metal mining shares, was up

1.4% as the price of gold rose.