By Commodity News Service Canada
WINNIPEG, Dec. 12 (CNS Canada) – The Canadian dollar stronger Wednesday morning from increases in the prices of oil and gold.
At 9:05 CST Wednesday morning the Canadian dollar was at US$0.7493 or C$1.3344, which compares with Tuesday’s North American close of US$0.7462 or C$1.3402.
Oil prices were up Wednesday morning. West Texas Intermediate crude was at US$52.32 per barrel after closing Tuesday at US$51.65.
Alberta Premier Rachel Notley made a third move to help the province’s struggling oil industry. On Tuesday Notley announced her government is seeking expressions of interest from the private sector to build a fourth refinery in Alberta. The deadline to submit detailed proposals is Feb. 8, 2019. When the price of Alberta crude oil bottomed out, Notley announced plans to acquire rail cars to move 120,000 barrels per day and a production cut of 8.7 per cent to begin Jan. 1.
Gold was up Wednesday morning by US$4.20 cents to US$1,247.10 per ounce.
The TSX/S&P Composite Index was up 138.58 points Wednesday morning at 14,804.41.
