Futures for Canada's main stock index inched higher on Thursday after the worst session in three months, while weaker bullion and crude prices capped further gains for the resources-focused index.

Brent crude futures and US West Texas Intermediate crude futures fell 0.23% and 0.09%, respectively, while spot gold shed 0.25%.

March futures on the S&P/TSX index were up 0.09% at 7:00 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index ended 1.97% lower at 17,429.05 on Wednesday.

Boosting market sentiment, Cenovus Energy Inc forecast higher production and spending for 2021 after its blockbuster purchase of rival Husky Energy, expecting to benefit from a rebound in fuel demand from a slump caused by the COVID-19 pandemic.

Data of Canada's average weekly earnings for November is due at 08:30 a.m. ET.

Dow Jones Industrial Average e-mini futures were up 0.09% at 7:00 a.m. ET, while S&P 500 e-mini futures were down 0.13% and Nasdaq 100 e-mini futures were down 0.7%.