WCS sinks almost 3% as Cdn heavy oil discount widens to US$28 a barrel

WCS sinks almost 3% as Cdn heavy oil discount widens to US$28 a barrel

Summary of today's energy market action:
  • API forecasted a 3.2 million barrels decline in US crude inventories for last week. Gasoline and distillate inventories are also expected to fall by 4.9 and 1.3 million barrels, respectively. The EIA is due to report its official data on Wednesday morning.
  • Western Canadian Select (WCS) declined 2.6%, despite a 1% gain in WTI, as the heavy oil discount widened from US$26.30 to US$28.00 a barrel.
  • On the TSX, E&Ps and midstream names ended the day mostly in the green. PraireSky Royalty (PSK -6.8%) was a notable exception, reversing all of yesterday's gains and breaking a new 52-week low.
  • On the S&P 500, most sub-sectors posted gains for the day, led by large-cap integrated names and E&Ps.
  • Oilfield services stocks declined again today on both sides of the border, once again led lower by Halliburton (HAL -2.9%), now down over 10% from Friday's close.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$73.44▲0.548.06
 
79.80
WTI$68.52▲0.945.77
 
74.15
CDN LT$61.67▲1.043.29
 
69.32
C5+$67.42▲0.945.25
 
71.40
WCS$40.52▼2.630.41
 
56.21
TSX ENERGY
COMPANY TICKER CLOSE %CHG L 52WK H RANK 
INTEGRATED
SuncorSU53.53▼-0.738.07
 
55.3592
Imperial OilIMO42.73▲0.733.43
 
44.9180
Husky EnergyHSE20.81▲0.914.09
 
21.3093↑
MIDSTREAM
EnbridgeENB45.77▲0.537.36
 
53.0070
TransCanadaTRP58.25▼-0.250.28
 
65.1873
Pembina PipelinePPL46.23▲0.637.60
 
47.0287↑
Inter PipelineIPL24.36▲0.721.36
 
27.9240
Keyera KEY37.39▲1.231.20
 
40.1484
Enbridge Income FundENF32.29▲0.526.36
 
33.0593
Gibson EnergyGEI17.45▲0.515.68
 
19.3847
LARGE CAP E&P
Canadian NaturalCNQ46.45▲0.736.85
 
49.0883
Cenovus EnergyCVE13.45▲0.49.03
 
14.8475
EncanaECA17.01▲1.111.05
 
18.0677
PrairieSkyPSK24.00▼-6.823.71
 
35.906
TourmalineTOU24.45▲1.217.78
 
28.7487
SERVICES
ShawcorSCL25.97▼-1.023.60
 
30.1026↓
Mullen Group MTL15.54▼-2.314.10
 
17.6264↓
CES Energy SolutionsCEU4.62▼-0.94.39
 
7.345
Pason SystemsPSI20.46▼-0.716.05
 
21.9678↓
EnerflexEFX14.75▲3.713.55
 
19.0837
REFINING & MARKETING
Parkland FuelPKI34.78▲0.123.41
 
35.5397

TSX ENERGY
VERSUS TSX & SUB-SECTORS
S&P 500 ENERGY
COMPANY TICKER CLOSE %CHG L 52WK H RANK 
INTEGRATED
Exxon MobilXOM83.01▲2.072.16
 
89.3051
ChevronCVX123.85▲2.1102.92
 
133.8845
MIDSTREAM
Kinder MorganKMI17.65▼-0.314.69
 
20.7042
Williams CoWMB29.18▲1.324.00
 
33.6758↑
ONEOKOKE70.38▲0.349.65
 
71.9991
LARGE CAP E&P
ConocoPhillipsCOP70.85▲1.242.27
 
72.5793
EOG ResourcesEOG125.62▲2.381.99
 
128.0385↑
Occidental PetroleumOXY83.46▲1.258.44
 
87.6781
Anadarko PetroleumAPC72.36▲1.939.96
 
76.7090
Pioneer Natural ResPXD187.17▲3.2125.46
 
213.4054
SERVICES
SchlumbergerSLB65.52▼-0.361.02
 
80.3517↓
HalliburtonHAL40.35▼-2.938.18
 
57.861↓
Baker HughesBHGE32.99▲1.525.53
 
38.1043↑
TechnipFMCFTI29.94▲0.124.53
 
35.0017
National-Oilwell VarcoNOV42.30▼-0.529.90
 
46.0076
REFINERS
Phillips 66PSX111.22▲0.780.73
 
122.3872↑
Valero EnergyVLO107.27▲0.964.22
 
126.9873
Marathon PetroleumMPC73.74▲1.049.30
 
83.3369
AndeavorANDV138.98▲0.889.58
 
151.8994

SPX PERFORMANCE
VERSUS SPX & SUB-SECTORS
NYSE ADRs
COMPANY TICKER CLOSE %CHG L 52WK H RANK 
RDS.A370.21▲1.253.64
 
73.8665
TOT461.95▲1.149.55
 
64.5973
BP544.82▲1.333.90
 
47.8365
E638.14▲0.930.13
 
40.1576↑
EQNR726.14▲1.017.35
 
28.0677

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.
Bullish US inventory report sends oil prices higher

Bullish US inventory report sends oil prices higher

Halliburton warns of slowing demand growth out of the Permian, sending oil field services stocks lower

Halliburton warns of slowing demand growth out of the Permian, sending oil field services stocks lower

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