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The Canadian dollar edged higher against its U.S. counterpart on Thursday as improved investor sentiment offset a pull back in oil prices, but the currency stuck to a narrow trading range ahead of a speech by Bank of Canada Governor Tiff Macklem. The price of oil, one of Canada's major exports, extended its pull back from a seven-year high in the previous session as the United States said it was considering selling oil from its strategic reserves and as Russia said it was ready to stabilize the natural gas market. U.S. crude prices fell nearly 1% to $76.69 a barrel, while the Canadian dollar was trading 0.1% higher at 1.2575 to the greenback, or 79.52 U.S. cents.