US crude prices were up 1.11 percent at $47.31 a barrel as the world's biggest producer prepared to discuss a possible freeze in output levels. The US dollar fell against a basket of major currencies after Fed minutes, released on Wednesday, showed a bias among policymakers against raising interest rates soon.
At 9:13 a.m. EDT (1313 GMT), the Canadian dollar was trading at C$1.2829 to the greenback, or 77.95 US cents, stronger than Wednesday's close of C$1.2856, or 77.78 US cents.
The currency's weakest level in the session was C$1.2857 and its strongest was C$1.2798, which matched Tuesday's seven-week high.
Foreign investors bought a net C$9.02 billion ($7.03 billion) in Canadian securities in June, mainly in stocks, after buying C$13.99 billion in securities in May, Statistics Canada said.
Canadian government bond prices were mixed across the maturity curve, with the two-year price down 0.5 Canadian cent to yield 0.575 percent and the benchmark 10-year rising 2 Canadian cents to yield 1.052 percent.
The curve flattened as the spread between the 2-year and 10-year yields narrowed by 0.5 of a basis point to 47.7 basis points, its narrowest since June 2008.