Canadian heavy discount hits record territory

Canadian heavy discount hits record territory

Summary of today's energy market action:

  • At the risk of sounding very repetitive, the Canadian Light and heavy discount to WTI widened once again today, hitting US$25 and US$42 a barrel, respectively. The downward slide began in early September, when the two discounts were trading at US$10 and US$25. The WCS differential to WTI now sits a record 55%.

  • The TSX energy sector sank 1.5%, falling in sympathy with the broader index. Declines were broadly based across most subsectors.

  • The S&P 500 energy sector had a relatively quiet day, ending Friday roughly unchanged.

Today’s notable energy news:

OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$84.16▼0.555.62
 
86.29
WTI$74.34▲0.049.29
 
76.41
CDN LT$49.28▼1.648.46
 
69.32
C5+$66.67▼0.051.08
 
71.40
WCS$32.35▼2.330.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ OCT 5   █ SEP 28   █ SEP 21   █ SEP 14   (USD/BBL)
MARKET OVERVIEW
MARKETS
CURRENCIES & YIELDS
    TSX SECTORS
52-WK
    SPX SECTORS
52-WK
ENERGY SECTORS
ENERGY SUB-SECTORS

TSX ENERGY SUB-SECTORS

SPX ENERGY SUB-SECTORS
TSX ENERGY STOCKS
TSX BULLISH INDICATORS
TOP 5
  • CES Energy Solutions (CEU +2%)
  • TORC Oil & Gas (TOG +1.2%)
  • TransCanada (TRP +0.8%)
  • Tourmaline (TOU +0.7%)
  • Parex Resources (PXT +0.6%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Ensign Energy Services (ESI -8%)
  • Crescent Point (CPG -3.5%)
  • Precision Drilling (PD -3.2%)
  • Birchcliff Energy (BIR -2.6%)
  • Kelt Exploration (KEL -2.5%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK  CHARTS
    INTEGRATED
    SuncorSU50.68▼-1.940.49
     
    55.4777D   W
    Imperial OilIMO43.57▲0.233.43
     
    44.9193↑D   W
    Husky EnergyHSE20.97▼-1.115.09
     
    22.9986D   W
    MIDSTREAM
    EnbridgeENB43.65▼-0.437.36
     
    52.4372D   W
    TransCanadaTRP53.77▲0.850.28
     
    65.1851D   W
    Pembina PipelinePPL45.41▲0.137.60
     
    47.8489D   W
    Inter PipelineIPL22.39▼-0.821.36
     
    27.9230D   W
    Keyera KEY34.59▲0.131.20
     
    39.3147D   W
    Gibson EnergyGEI21.480.015.68
     
    21.5397↑D   W
    LARGE CAP E&P
    Cdn Natural ResCNQ41.33▼-1.936.88
     
    49.0832D   W
    EncanaECA16.55▼-1.512.37
     
    18.5486D   W
    Cenovus EnergyCVE13.06▼-1.39.03
     
    14.8487D   W
    TourmalineTOU22.62▲0.717.78
     
    27.2671D   W
    Seven GenerationsVII16.220.013.62
     
    21.2572D   W
    SERVICES
    ShawcorSCL24.92▼-1.923.60
     
    30.1038D   W
    Pason SystemsPSI20.60▲0.416.05
     
    22.1088D   W
    Mullen Group MTL15.42▼-1.514.10
     
    17.4064↓D   W
    EnerflexEFX16.94▲0.213.55
     
    18.5992D   W
    Secure EnergySES8.44▼-1.16.98
     
    9.8288D   W
    REFINING & MARKETING
    Parkland FuelPKI42.38▼-0.823.41
     
    43.9397D   W
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • Concho Resources (CXO +1.7%)
  • EQT Corp (EQT +1.4%)
  • Pioneer Natural Res (PXD +1.2%)
  • Cimarex Energy (XEC +1.1%)
  • Noble Energy (NBL +0.9%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • TechnipFMC (FTI -1.6%)
  • HollyFrontier (HFC -1.5%)
  • National-Oilwell Varco (NOV -1.4%)
  • Baker Hughes (BHGE -1.4%)
  • Marathon Oil (MRO -1.3%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK  CHARTS
    INTEGRATED
    Exxon MobilXOM85.34▼-0.372.16
     
    89.3075D   W
    ChevronCVX125.33▲0.3108.02
     
    133.8872↑D   W
    MIDSTREAM
    Kinder MorganKMI18.06▼-1.214.69
     
    19.8374D   W
    Williams CoWMB27.62▼-0.624.00
     
    33.6750D   W
    ONEOKOKE68.61▲0.249.65
     
    71.9983D   W
    LARGE CAP E&P
    ConocoPhillipsCOP78.39▲0.248.70
     
    80.2497D   W
    EOG ResourcesEOG131.05▲0.695.36
     
    131.6095D   W
    Occidental PetroleumOXY81.40▼-0.962.47
     
    87.6781D   W
    Anadarko PetroleumAPC69.12▲0.346.75
     
    76.7082D   W
    Concho ResourcesCXO158.23▲1.7123.63
     
    163.1190↑D   W
    SERVICES
    SchlumbergerSLB63.00▲0.259.25
     
    80.3536D   W
    HalliburtonHAL42.00▲0.335.75
     
    57.8632D   W
    National-Oilwell VarcoNOV44.62▼-1.431.47
     
    49.0879D   W
    TechnipFMCFTI30.14▼-1.624.53
     
    35.0038D   W
    Baker HughesBHGE31.90▼-1.425.53
     
    37.7638D   W
    REFINERS
    Phillips 66PSX118.37▲0.689.14
     
    123.9787D   W
    Valero EnergyVLO117.11▼-0.175.84
     
    126.9885D   W
    Marathon PetroleumMPC84.51▼-0.955.68
     
    88.4586D   W
    HollyFrontierHFC69.21▼-1.534.47
     
    83.2889D   W
    NYSE ADRs
    ADRs BULLISH INDICATORS
    12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • ADRs BEARISH INDICATORS
    12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK  CHARTS
    Royal Dutch ShellRDS.A68.35▼-1.360.05
     
    73.8660D   W
    TotalTOT63.58▼-1.353.08
     
    65.6969D   W
    BPBP46.50▼-0.636.15
     
    47.8383D   W
    EniE37.57▲0.131.58
     
    40.1558D   W
    EquinorEQNR27.82▲0.619.71
     
    28.9384D   W
    ANALYST RATINGS

    UPGRADES

    • ENI (E): Upgraded from Neutral to Buy at Bank of America.

    • Equinor (EQNR): Upgraded from Neutral to Buy at Bank of America.

    • Helmerich & Payne (HP): Upgraded from Equal Weight to Overweight at Capital One.

    DOWNGRADES

    • Bonterra Energy (BNE): Downgraded from Strong Buy to Outperform at Raymond James.

    • Sources Energy Services (SHLE): Downgraded from Buy to Hold at TD Securities.


    UPDATED: DAILY (END-OF-DAY)

    SOURCES:
    • OIL PRICES REFLECT NEAR MONTH CONTRACT FROM THE NYMEX/CME GROUP
    • EQUITY PRICES PROVIDED BY NYSE & TMX GROUP
    • CHARTPACKS COURTESY STOCKCHARTS.COM

    NOTES:
    • OIL PRICES, FUTURES AND DIFFERENTIALS IN USD/BBL
    • C5+ = EDMONTON CONDENSATE
    • FUTURES CURVES SHOW PRICES FOR NEAR-MONTH CONTRACT (C1) AND NEXT 5-MONTHS (C2-C6)
    • TSX SHARE PRICES IN CAD; S&P 500 PRICES IN USD
    • ADR: AMERICAN DEPOSITORY RECEIPTS LISTED ON NYSE IN USD
    • SHARE PRICE CHANGES (INCL. NEW HIGHS & LOWS) EXCLUDE DIVIDENDS

    RANK:
    • BASED ON STOCKCHARTS TECHNICAL RANK (SCTR)
    • REFLECTS RELATIVE STRENGTH AMONG OTHER ENERGY STOCKS (PERCENTILE RANKING)
    • RISING RANK (↑) REFLECTS INCREASING RELATIVE STRENGTH
    • FALLING RANK (↓) REFLECTS DECREASING RELATIVE STRENGTH.
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