Heady times in energy markets
WTI reached as high as $60.95 but has slipped back to $60.13 as traders in a thin market survey the scene in Texas where oil and gas production is being shut in amidst record heating demand.
It's much colder in Canada but it's mostly business as usual in the Alberta oil patch.
The move in CAD is more of a catch-up trade to the recent leg higher in crude and a bet that Canada will be a big winner in any kind of commodity supercycle.
USD/CAD is flirting with its lowest close since 2018 but still has some work to do to get to the January intraday low of 1.2590.
The loonie is now the top performer today, edging out GBP. The yen is the laggard.
