Oil prices soften as OPEC trade fades • Heavy oil discount widens to over US$18 • Natgas tumbles on higher inventories and warmer weather • Energy stocks drag markets lower • Cdn midstream stocks post a decent week while US refiners hit fresh all-time highs
OIL PRICES EXPLAINED: Putting a dollar value on a barrel of crude
Crude oil and petroleum products are globally traded commodities, whose prices are largely governed by supply and demand fundamentals. But global currencies, availability of money flow and market sentiment also play an important role.
EIA reports big rise in product inventories as refineries crank crude THROUGHPUT