TORONTO - Canada’s main stock market dipped again Wednesday despite crude oil surpassing US$60 a barrel and the Federal Reserve’s more dovish tone. The key energy sector gained almost two per cent after oil prices rose above $60 for the first time in more than four months on lower-than-expected U.S. oil inventories. She expects prices will rise to US$70 per barrel in 2019 but won’t return to triple digits because U.S. supply will temper increases. Bangsund said U.S. markets are now increasing the likelihood of a rate hike this year to almost 50 per cent and she’s sure the Canadian market will follow suit. Despite Wednesday’s slight dip, she remains bullish about the TSX, forecasting it will end the year at 17,300.

Source: thestar March 20, 2019 15:22 UTC