Goldman Sachs lowered its oil price forecasts for the new year. The investment bank now expects international benchmark Brent crude to average $62.50 a barrel this year, down from a previous forecast of $70–reports CNBC.
We see whether the gold rally will continue throughout the whole Q1. Experts say that 2019 will be much better for gold because of its insurance qualities. Read the whole article on Seeking Alpha.
325,000 barrels per day is curtailed as part of the Alberta government policy, and Enbridge Line 3 later on will be a support. Since the US dollar is bit lower, gold price may better which of course is good for gold stocks.