Oil prices dip slightly on light trading volumes
Editor's note: US exchanges, including the CME Group, were closed for Thanksgiving. Markets re-open tomorrow for a shortened trading session. Oil prices reflect implied prices, based on electronic trading. Discounts on Canadian oil represent Wednesday closing price. No data provided for NYSE listings.
Today's energy market summary:
Oil price slid in electronic trading today, as US markets remain closed for the Thanksgiving holiday.
Brent and WTI both declined 1.4%. Henry Hub is also set to open Friday morning 4% lower.
In Toronto, the TSX ended Thursday unchanged, with the energy sector posting a 0.5% increase on light trading volumes. Midstream stocks posted the biggest loses, while large-cap producers had a relative good day.
Today's notable energy news:
After being taken offline last Thursday due to a severe storm, Newfoundland's offshore regulator has cleared the Hibernia platform for restart. Hibernia averages about 150,000 bbl/day and is operated by ExxonMobil (XOM).
Husky Energy's (HSE.TO -0.9%) White Rose platform remains offline until a full investigation is completed. White Rose produces about 27,500 bbl/day, and is jointly owned with Suncor Energy (SU.TO +0.9%).
Trinidad Drilling (TDG.TO +2.4%) says it will waiver its Shareholder Rights Plan effective tomorrow, allowing Ensign Energy (ESI.TO -1.5%) to continue buying up shares. The company says the plan is no longer required given its pending merger with Precision Drilling (PD.TO n/c). Ensign says it welcomes the news, and encourages TDG shareholders to tender their shares by November 27, 2018.
|CURRENCIES & YIELDS|
|Suncor Energy||SU||44.89||▲0.9||40.49||55.47||40||D W|
|Imperial Oil||IMO||40.36||▲0.2||33.43||44.91||62||D W|
|Husky Energy||HSE||16.20||▼-0.9||15.09||22.99||17||D W|
|Pembina Pipeline||PPL||43.91||▼-0.7||37.60||47.84||82||D W|
|Inter Pipeline||IPL||22.08||▼-0.1||20.68||27.92||60||D W|
|Gibson Energy||GEI||21.46||▲0.6||15.68||23.32||97||D W|
|LARGE CAP E&P|
|Cdn Natural Res||CNQ||35.79||▲0.5||34.75||49.08||20||D W|
|Cenovus Energy||CVE||10.09||▼-0.4||9.03||14.84||13||D W|
|Seven Generations||VII||11.86||▲0.5||11.51||19.40||9||D W|
|Pason Systems||PSI||21.57||▲0.2||16.05||24.57||93||D W|
|Mullen Group||MTL||13.14||▼-0.5||13.01||16.93||26||D W|
|Secure Energy||SES||8.05||▼-0.5||6.98||9.82||78||D W|
|REFINING & MARKETING|
|Parkland Fuel||PKI||37.81||▼-1.0||25.02||47.45||92||D W|
Cardinal Energy (CJ.TO): Downgraded from Outperform to Neutral at CIBC.
UPDATED: DAILY (END-OF-DAY)
• OIL PRICES REFLECT NEAR MONTH CONTRACT FROM THE NYMEX/CME GROUP
• EQUITY PRICES PROVIDED BY NYSE & TMX GROUP
• CHARTPACKS COURTESY STOCKCHARTS.COM (DIVIDEND ADJUSTED)
• 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
• 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.