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Western Canadian Select (WCS) is the most important oil price index in Western Canada. The price received by Canadian oil producers is often based on WCS. Limited transportation infrastructure causes a large discount in WCS in relation to West Texas Intermediate (WTI).
- Canadian Dollar Outlook
- Oil Fueling Loonie Gains
- CAD/JPY Rate Technical Analysis: Daily Chart
- USD/CAD Rate Technical Analysis: Daily Chart
- IG Client Sentiment Index: USD/CAD Rate Forecast
The ongoing rebound in crude oil priceshas given a lift to the Loonie.CAD/JPY rates have recently traded above their daily 21-EMA, while USD/CADrates have yet to fall below their one-month moving average.According to the IG Client Sentiment Index, USD/CADrates now have a bearish bias in the near-term.Strength in energy markets is helping propel the Canadian Dollar higher at the end of the year. Energy, which accounts for approximately 11% of Canadian GDP, has a considerable sway over the Loonie, so it’s no surprise that the sharp rebound by crude oil prices over the past week have filtered into rallies by the major CAD-crosses. And with risk ap...
CAD/JPY rates have continued their rally from the 61.8% Fibonacci retracement of the August low/October range at 87.86, finally achieving a move higher through the daily 21-EMA – the one-month moving average – by the end of last week. Of equal consequence, the pair was also able to climb above the descending trendline from the October and November ...
In the prior update it was noted that “if crude oil pricesare able to clear 73.34, however, then it would be a favorable sign that the Loonie rally could have some room to run yet.” Crude oil prices have hurdled 73.34, suggesting that more USD/CAD weakness could be on the way. Unlike CAD/JPY rates, however, USD/CAD rates have yet to emerge on the o...
USD/CAD: Retail trader data shows 56.50% of traders are net-long with the ratio of traders long to short at 1.30 to 1. The number of traders net-long is 2.80% lower than yesterday and 39.70% higher from last week, while the number of traders net-short is 3.39% lower than yesterday and 44.63% lower from last week. We typically take a contrarian view...
- Christopher Vecchio
- Former Senior Strategist
Mar 1, 2021 · Brent: Brent is the main benchmark price for light sweet crude in international markets and specifies delivery at Sullom Voe terminal, United Kingdom. Western Canadian Select: Western Canada Select (WCS) is the main benchmark price for Canadian heavy crude and specifies delivery at Hardisty, Alberta. Mixed Sweet Blend: Mixed Sweet Blend (MSW ...
Jun 4, 2024 · Oil prices continued their slide on Tuesday on skepticism about an OPEC+ decision to boost supply later this year into a global market where demand has already shown signs of weakness....
Crude oil and natural gas price forecast, based on a detailed review of the most current commodity price and energy market information.
Base-price case WTI: The forecast average price is US$76.00/bbl in 2024, strengthening to US$77.00/bbl in 2025. The price is expected to increase to US$83.63 in 2033. Low-price case WTI: The forecast is US$46.47/bbl in 2024 and projected to be US$46.45/bbl in 2033.
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Oil Price Charts. Oilprice.com, in cooperation with its partners, offers over 150 crude oil blends and indexes from all around the world, providing users with oil price charts, comparison...
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