By Commodity News Service Canada
WINNIPEG, Dec. 3 (CNS Canada) – The Canadian dollar was stronger Monday morning.
At 8:46 CST Monday morning the Canadian dollar was at US$0.7586 or C$1.3181, which compares with Friday’s North American close of US$0.7518 or C$1.3301.
Oil prices Monday morning were up US$2.19 per barrel. West Texas Intermediate crude this morning was at US$53.12 per barrel after closing Friday at US$50.93.
Province of Alberta Premier Rachel Notley made another move to help the province’s troubled oil industry. Notley announced on Sunday her government will impose production cuts of 8.7 per cent starting in January to help ease the production glut that has led to record low prices of Alberta crude. Recently the premier announced the province would buy rail cars to help move 120,000 barrels per day of Alberta oil to refineries.
Gold is up Monday morning by US$13.70 to US$1,237.00 per ounce.
The Toronto TSX/S&P Composite Index was up 170.32 points Monday morning at 15,368.30.
