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WCS Discount Dips as US Demand for Alberta Crude Oil Increases

The oil space has been on a rollercoaster ride since 2015 began, but it seems it may be making a comeback. According to Scotiabank's Patricia Mohr, with WTI at around US$59 to $60, the WCS heavy oil price should be US$52 in July.

TSX Recovers After NDP’s Alberta Win Sparks Energy Sector Concerns

The New Democratic Party's victory in Alberta's provincial election caused the TSX to drop on Wednesday as energy stocks took a hit. Specifically, the S&P/TSX Composite index dropped 0.99 percent, or 150.05 points, to close at 15,023.89 points. The dip marked a one-month low and put seven out of 10 of the main sectors on the index in the red.

Scotiabank’s Patricia Mohr Predicts Spring Rally in Oil Price

Mohr predicts that WTI will recover to the $65 level by the fourth quarter of 2015. "I think the price is going to move up to $65 because there has been such a huge drop in cost of production. Margins are being squeezed for drillers and service providers, but also even wage rates would be moving down a lot in the industry, so the cost of drilling is going to move down a lot," she said.