• TSX ends down 0.1% at 23,003.09
• Energy falls for seventh straight day
• Oil settles at lowest since December 2021
• Materials group gains 1.4%

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 (.GSPTSE) , opens new tab 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 (PD.TO) , opens new tab falling 4.7% and Canadian Natural Resources (CNQ.TO) , opens new tab ending 3.5% lower.

Energy pipeline operator Enbridge (ENB.TO) , opens new tab 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 (ATD.TO) , opens new tab shares also lost ground, falling 1.4%. The U.S. Federal Trade Commission has notified Seven & i (3382.T) , opens new tab 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.

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https://www.reuters.com/markets/tsx-futures-slip-declining-crude-prices-2024-09-10/