Weak Chinese economic data drag commodities, stocks and bond yields lower, sending oil prices tumbling

Weak Chinese economic data drag commodities, stocks and bond yields lower, sending oil prices tumbling

Summary of today's energy market action:
  • Weak economic data out of China sparked a sell-off in commodities, equity markets and global bond yields.
  • Oil prices declined across the board today, as the EIA reported a larger-than-expected build in US crude stockpiles. Gasoline prices also tanked over 7%.
  • WTI briefly broke through US$65/bbl but managed to recover by the end of the day, while Brent remains above the US$70 mark. Both benchmarks touched their 200-day moving averages today.
  • Energy was one of today's worst performing sectors, declining over 3% on both the TSX and S&P 500.
  • Declines were broadly based across all sub-sectors. Midstream stocks saw the least amount of damage due to the renewed threat of falling interest rates.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$70.76▼2.350.27
 
79.80
WTI$65.01▼3.045.96
 
74.15
CDN LT$56.71▼3.643.56
 
69.32
C5+$61.88▼3.847.17
 
71.40
WCS$35.22▼4.930.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ AUG 15   █ AUG 8   █ AUG 1   █ JUL 25   (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
  • None
  • 12-MO HIGHS
  • Parkland Fuel (PKI -0.2%)
  • 10-YR HIGHS
  • Parkland Fuel (PKI -0.2%)
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM 5
  • Cenovus Energy (CVE -5.9%)
  • CES Energy Solutions (CEU -7.5%)
  • Advantage Oil & Gas (AAV -7.5%)
  • Crew Energy (CR -6.6%)
  • Gran Tierra (GTE -6.6%)
  • 12-MO LOWS
  • PrairieSky (PSK -1%)
  • Crescent Point (CPG -3.3%)
  • Freehold Royalties (FRU -3.3%)
  • Raging River (RRX -5.3%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU51.56▼-4.238.34
     
    55.4785
    Imperial OilIMO40.83▼-3.433.43
     
    44.9170
    Husky EnergyHSE21.55▼-2.814.10
     
    22.4396
    MIDSTREAM
    EnbridgeENB46.05▼-0.837.36
     
    52.5975
    TransCanadaTRP57.50▼-0.650.28
     
    65.1872
    Pembina PipelinePPL46.05▼-1.837.60
     
    47.8486
    Inter PipelineIPL24.31▼-0.721.36
     
    27.9267
    Keyera KEY37.14▼-2.231.20
     
    39.4483
    Gibson EnergyGEI19.78▼-0.615.68
     
    20.1796
    LARGE CAP E&P
    Cdn Natural ResCNQ44.07▼-3.436.88
     
    49.0859
    Cenovus EnergyCVE11.76▼-5.99.03
     
    14.8435
    EncanaECA16.61▼-3.911.05
     
    18.5479
    PrairieSkyPSK23.47▼-1.023.13
     
    35.9013
    TourmalineTOU21.42▼-4.417.78
     
    27.2631
    SERVICES
    ShawcorSCL27.79▼-2.123.60
     
    30.1077
    Mullen Group MTL16.07▼-1.314.10
     
    17.6281
    CES Energy SolutionsCEU4.33▼-7.54.27
     
    7.349
    Pason SystemsPSI21.20▼-0.616.05
     
    22.1091
    EnerflexEFX15.83▼-2.513.55
     
    19.0880
    REFINING & MARKETING
    Parkland FuelPKI40.87▼-0.223.41
     
    41.2598
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • None
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM 5
  • EOG Resources (EOG -6.2%)
  • Anadarko Petroleum (APC -6.9%)
  • Baker Hughes (BHGE -6.3%)
  • Marathon Oil (MRO -7.1%)
  • Transocean (RIG -7.4%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM76.94▼-1.872.16
     
    89.3037
    ChevronCVX117.94▼-3.8105.30
     
    133.8841
    MIDSTREAM
    Kinder MorganKMI17.73▼-1.214.69
     
    19.8558
    Williams CoWMB30.00▼-1.024.00
     
    33.6765
    ONEOKOKE66.95▼-2.349.65
     
    71.9971
    LARGE CAP E&P
    ConocoPhillipsCOP67.82▼-6.042.27
     
    73.7683
    EOG ResourcesEOG115.44▼-6.281.99
     
    131.6046
    Occidental PetroleumOXY76.93▼-3.458.44
     
    87.6752
    Anadarko PetroleumAPC62.34▼-6.939.96
     
    76.7032
    Pioneer Natural ResPXD173.69▼-5.3125.46
     
    213.4027
    SERVICES
    SchlumbergerSLB62.29▼-3.961.02
     
    80.3519
    HalliburtonHAL39.70▼-2.438.18
     
    57.866
    Baker HughesBHGE31.81▼-6.325.53
     
    38.1060
    TechnipFMCFTI27.60▼-4.524.53
     
    35.0013
    National-Oilwell VarcoNOV43.72▼-3.329.90
     
    49.0886
    REFINERS
    Phillips 66PSX115.38▼-4.680.73
     
    123.9788
    Valero EnergyVLO111.52▼-3.164.22
     
    126.9887
    Marathon PetroleumMPC77.18▼-3.149.30
     
    83.3383
    AndeavorANDV145.10▼-2.589.58
     
    152.9798
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A62.23▼-2.354.27
     
    73.8627↓
    TotalTOT58.87▼-3.449.75
     
    65.6943↓
    BPBP41.53▼-2.633.90
     
    47.8343
    EniE35.50▼-3.030.13
     
    40.1543
    EquinorEQNR24.69▼-3.118.10
     
    28.0649

    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.
    Oil prices and equity markets recover some of yesterday’s losses as US/China trade tensions ease

    Oil prices and equity markets recover some of yesterday’s losses as US/China trade tensions ease

    Oil prices slump as US dollar hits 1-yr high and API reports inventory build

    Oil prices slump as US dollar hits 1-yr high and API reports inventory build

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