Canadian stocks are poised for another lackluster session Friday despite hopes for a breakthrough on the Kinder Morgan pipeline fiasco.
Justice Minister Jody Wilson-Raybould said the government will intervene to end the squabble between British Columbia and its neighbors.
"We are confident in Parliament's jurisdiction and will intervene on the question in order to defend our clear jurisdiction over interprovincial pipelines," she said in a statement.
Meanwhile, a group of Greenpeace activists are refusing to leave Kinder Morgan's giant drill.
The U.S. government has fined Enbridge (ENB.TO) $1.8 million for missing pipe inspection deadlines.
WTI light sweet oil was up to $68.64 a barrel amid concerns that sanctions against Iran would further restrict OPEC supplies.
In economic news, the U.S. jobless rate fell to the lowest level since December 2000, dropping to 3.9% from 4.1%. Still, the U.S. created just 164,000 new jobs in April, below forecast.
The TSX Composite is set to follow the major indices on Wall Street slightly lower at the opening bell, barring a positive reaction to the U.S. jobs report.
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