CAD review

The Canadian Dollar was another beneficiary of the strong US Dollar trading levels which were last traded in Mid-Jan this year. 

Strong Crude Oil prices made it a double whammy for the Canadian Dollar. With WTI trading over $60 a barrel the realizations for the Oil Sand companies will be around the $40-45 range which will cover marginal costs for these companies, which could result in higher production. 

The forward curve for WTI for one year forward is quoting around $64.5 which makes it viable for some of these companies to lock into forward hedges for a portion of their output which will keep them going for some time.