CANADA FX DEBT-Canadian dollar hits 1-week low on slumping risk appetite

The loonie was 0.5% lower at 1.2790 to the greenback, or 78.19 U.S. cents, after trading between 1.2686 and 1.2801. The price of oil, one of Canada's major exports, spiked to its highest level since 2008 at $130.50 a barrel before paring gains, as the United States and European allies considered banning Russian oil imports.