Canadian Light differential widens, sending prices back to June lows

Canadian Light differential widens, sending prices back to June lows

Summary of today's energy market action:
  • Despite another increase in the US dollar, oil prices recovered some of this week's losses, with Brent and WTI both gaining about 1%.
  • The Canadian Light differential to WTI widened from just over US$5 last week to US$8.66/bbl on Friday, sending prices below US$59, the lowest since mid-June.
  • Gains and losses in the Canadian energy patch were roughly even, leaving the TSX energy sector unchanged for the day.
  • Notable TSX movers include Enerflex (EFX +9.4%) on better-than-expected Q2 results, and NuVista Energy (NVA -10.7%) on the purchase of several Deep Basin assets from Cenovus Energy (CVE +0.9%) for $625 million.
  • SPX energy names mostly ended the day in the positive, with the sector averaging a gain of 0.3%.
  • NYSE listed ADRs posted another day of declines, as both the Euro and the British pound broke through major support levels.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$72.81▲1.050.27
 
79.80
WTI$67.63▲1.245.96
 
74.15
CDN LT$58.97▼1.443.56
 
69.32
C5+$66.10▲1.047.17
 
71.40
WCS$37.49▲2.630.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ AUG 10   █ AUG 3   █ JUL 27   █ JUL 20   (USD/BBL)
ENERGY SECTORS
ENERGY SUB-SECTORS

TSX ENERGY SUB-SECTORS
VERSUS TSX & CDN ENERGY SECTOR

SPX ENERGY SUB-SECTOR
VERSUS SPX & US ENERGY SECTOR
TSX ENERGY STOCKS
TSX BULLISH INDICATORS
TOP 5 GAINERS
  • Shawcor (SCL +4.8%)
  • Enerflex (EFX +9.4%)
  • Enerplus (ERF +3%)
  • Kelt Exploration (KEL +2.7%)
  • Precision Drilling (PD +3.6%)
  • 12-MO HIGHS
  • Gibson Energy (GEI +2.2%)
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • TransCanada (TRP -0.8%)
  • TSX BEARISH INDICATORS
    TOP 5 LOSERS
  • Inter Pipeline (IPL -3.6%)
  • Pason Systems (PSI -2.9%)
  • Gran Tierra (GTE -1.8%)
  • MEG Energy (MEG -2.9%)
  • Nuvista Energy (NVA -10.7%)
  • 12-MO LOWS
  • Freehold Royalties (FRU 0%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU53.40▼-0.638.34
     
    55.4789
    Imperial OilIMO41.84▼-1.333.43
     
    44.9173
    Husky EnergyHSE21.83▲0.114.10
     
    22.1796
    MIDSTREAM
    EnbridgeENB47.05▼-0.437.36
     
    52.5981
    TransCanadaTRP57.82▼-0.850.28
     
    65.1870
    Pembina PipelinePPL46.06▼-0.437.60
     
    47.8485
    Inter PipelineIPL24.31▼-3.621.36
     
    27.9264
    Keyera KEY37.82▼-0.131.20
     
    39.4486
    Enbridge Income FundENF33.10▼-0.126.36
     
    33.2893
    Gibson EnergyGEI20.03▲2.215.68
     
    20.1796
    LARGE CAP E&P
    Canadian NaturalCNQ45.73▲0.836.88
     
    49.0881
    Cenovus EnergyCVE13.03▲0.99.03
     
    14.8490
    EncanaECA17.74▲0.911.05
     
    18.5495
    PrairieSkyPSK23.55▼-0.523.20
     
    35.909
    TourmalineTOU22.92▼-0.917.78
     
    27.2665
    SERVICES
    ShawcorSCL28.07▲4.823.60
     
    30.1084
    Mullen Group MTL16.28▲0.414.10
     
    17.6284
    CES Energy SolutionsCEU4.70▲2.24.27
     
    7.3415
    Pason SystemsPSI21.11▼-2.916.05
     
    22.1092
    EnerflexEFX16.57▲9.413.55
     
    19.0893
    REFINING & MARKETING
    Parkland FuelPKI40.48▲0.923.41
     
    41.0298
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5 GAINERS
  • Apache (APA +2%)
  • Concho Resources (CXO +2.1%)
  • Devon Energy (DVN +1.8%)
  • Helmerich & Payne (HP +3.5%)
  • Murphy Oil (MUR +3.8%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • EQT Corp (EQT -0.3%)
  • SPX BEARISH INDICATORS
    TOP 5 LOSERS
  • Exxon Mobil (XOM -0.1%)
  • EQT Corp (EQT -0.3%)
  • Noble Energy (NBL -0.2%)
  • Range Resources (RRC -2.6%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • Schlumberger (SLB +1%)
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM79.42▼-0.172.16
     
    89.3042
    ChevronCVX123.34▲0.7105.30
     
    133.8855
    MIDSTREAM
    Kinder MorganKMI18.17▲1.314.69
     
    19.8566
    Williams CoWMB31.790.024.00
     
    33.6789
    ONEOKOKE68.90▲0.249.65
     
    71.9983
    LARGE CAP E&P
    ConocoPhillipsCOP71.94▲0.242.27
     
    73.7694
    EOG ResourcesEOG122.77▲0.481.99
     
    131.6075
    Occidental PetroleumOXY78.78▲1.358.44
     
    87.6754
    Anadarko PetroleumAPC66.82▲1.139.96
     
    76.7057
    Pioneer Natural ResPXD186.14▲0.4125.46
     
    213.4056
    SERVICES
    SchlumbergerSLB66.04▲1.061.02
     
    80.3532
    HalliburtonHAL41.94▲1.038.18
     
    57.869
    Baker HughesBHGE34.75▲0.225.53
     
    38.1087↑
    TechnipFMCFTI30.00▲0.024.53
     
    35.0031
    National-Oilwell VarcoNOV45.84▲0.429.90
     
    49.0894
    REFINERS
    Phillips 66PSX122.59▲0.480.73
     
    123.9796
    Valero EnergyVLO115.37▲0.264.22
     
    126.9893
    Marathon PetroleumMPC80.93▲0.249.30
     
    83.3392
    AndeavorANDV150.23▲0.289.58
     
    152.9799↑
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A64.87▼-1.354.27
     
    73.8639
    TotalTOT61.82▼-3.349.75
     
    65.6963
    BPBP42.99▼-1.233.90
     
    47.8354
    EniE36.44▼-3.430.13
     
    40.1549
    EquinorEQNR25.68▼-0.818.10
     
    28.0666

    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.
    Energy stocks retreat as global equity markets take a tumble

    Energy stocks retreat as global equity markets take a tumble

    Stronger US dollar takes the wind out of oil prices

    Stronger US dollar takes the wind out of oil prices

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