WCS surges over 10% as Canadian heavy discount narrows

WCS surges over 10% as Canadian heavy discount narrows

Summary of today's energy market action:
  • Brent and WTI gained about 0.6% on news of renewed supply disruptions out of Libya and a small pullback in the US dollar.
  • Canadian heavy benchmark WCS surged over 10% on the first trading day of the October contract, which has a narrower differential than the previous month.
  • Energy stocks posted a nice recovery today, gaining on average 0.6% on the TSX and 0.3% on the SPX.
  • Gains were broadly based across all sub-sectors, led by interest rate sensitive midstream stocks, notably Enbridge (ENB.TO +2.4%) and Williams (WMB +1.5%).
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$71.43▲0.950.27
 
79.80
WTI$65.46▲0.745.96
 
74.15
CDN LT$57.17▲0.843.56
 
69.32
C5+$62.32▲0.747.17
 
71.40
WCS$35.73▲1.530.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ AUG 17   █ AUG 10   █ AUG 3   █ JUL 27   (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
  • Precision Drilling (PD +4.1%)
  • TORC Oil & Gas (TOG +3.3%)
  • Cenovus Energy (CVE +3.1%)
  • Enbridge (ENB +2.4%)
  • Mullen Group (MTL +1.9%)
  • 12-MO HIGHS
  • Enbridge Income Fund (ENF +1.6%)
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Trican Well (TCW -2.5%)
  • Parex Resources (PXT -2.4%)
  • Crew Energy (CR -1.5%)
  • Birchcliff Energy (BIR -1.4%)
  • Peyto Exploration (PEY -1.4%)
  • 12-MO LOWS
  • Raging River (RRX +1.2%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU52.69▲0.838.34
     
    55.4788
    Imperial OilIMO40.48▼-0.433.43
     
    44.9162
    Husky EnergyHSE22.00▲1.214.10
     
    22.4397
    MIDSTREAM
    EnbridgeENB47.04▲2.437.36
     
    52.5980
    TransCanadaTRP57.93▲0.550.28
     
    65.1853
    Pembina PipelinePPL46.20▲0.137.60
     
    47.8482
    Inter PipelineIPL24.72▲0.721.36
     
    27.9275↑
    Keyera KEY37.38▲0.231.20
     
    39.4478
    Gibson EnergyGEI19.67▼-0.215.68
     
    20.1795
    LARGE CAP E&P
    Cdn Natural ResCNQ44.64▲0.936.88
     
    49.0867
    Cenovus EnergyCVE11.96▲3.19.03
     
    14.8461
    EncanaECA16.41▼-0.711.05
     
    18.5473
    PrairieSkyPSK23.60▼0.023.13
     
    35.9012
    TourmalineTOU21.41▲0.617.78
     
    27.2625
    SERVICES
    ShawcorSCL27.53▼0.023.60
     
    30.1071↓
    Mullen Group MTL16.40▲1.914.10
     
    17.6285
    CES Energy SolutionsCEU4.42▲1.14.26
     
    7.3411
    Pason SystemsPSI21.09▼-0.316.05
     
    22.1090↓
    EnerflexEFX15.86▲0.313.55
     
    19.0875↓
    REFINING & MARKETING
    Parkland FuelPKI40.80▼-0.623.41
     
    41.3598
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • Marathon Oil (MRO +2.6%)
  • Helmerich & Payne (HP +2.1%)
  • Newfield Exploration (NFX +1.7%)
  • Range Resources (RRC +1.6%)
  • Williams Co (WMB +1.5%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • Baker Hughes (BHGE -1.8%)
  • Noble Energy (NBL -1.6%)
  • Murphy Oil (MUR -1.5%)
  • Cimarex Energy (XEC -1.4%)
  • EOG Resources (EOG -1%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM78.26▲0.372.16
     
    89.3039
    ChevronCVX117.80▲0.1105.30
     
    133.8839↓
    MIDSTREAM
    Kinder MorganKMI17.95▲0.714.69
     
    19.8557
    Williams CoWMB30.47▲1.524.00
     
    33.6767
    ONEOKOKE67.52▲0.649.65
     
    71.9970
    LARGE CAP E&P
    ConocoPhillipsCOP69.77▲0.542.27
     
    73.7688
    EOG ResourcesEOG114.77▼-1.081.99
     
    131.6037↓
    Occidental PetroleumOXY78.55▲0.758.44
     
    87.6758
    Anadarko PetroleumAPC62.05▼-0.439.96
     
    76.7026↓
    Pioneer Natural ResPXD173.20▲0.1125.46
     
    213.4023
    SERVICES
    SchlumbergerSLB62.83▲0.561.02
     
    80.3519
    HalliburtonHAL39.97▲0.538.18
     
    57.866
    Baker HughesBHGE31.01▼-1.825.53
     
    38.1041↓
    TechnipFMCFTI28.03▲0.524.53
     
    35.0015
    National-Oilwell VarcoNOV43.84▲0.229.90
     
    49.0881↓
    REFINERS
    Phillips 66PSX115.44▲0.480.73
     
    123.9786
    Valero EnergyVLO111.00▼-0.364.22
     
    126.9882↓
    Marathon PetroleumMPC77.11▲0.649.30
     
    83.3378
    AndeavorANDV144.84▲0.489.58
     
    152.9799
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A63.19▲0.554.27
     
    73.8630
    TotalTOT60.09▲0.749.75
     
    65.6946
    BPBP41.91▲0.533.90
     
    47.8341↓
    EniE36.21▲0.030.81
     
    40.1545
    EquinorEQNR25.14▲0.618.10
     
    28.0653

    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.
    Refining stocks stage a small recovery as gasoline prices find a floor

    Refining stocks stage a small recovery as gasoline prices find a floor

    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

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