Oil prices move higher as US oil rig counts take a tumble

Oil prices move higher as US oil rig counts take a tumble

Summary of today's energy market action:
  • Oil prices gained as much as 2% today as the US dollar pulled back and Baker Hughes reported a sharp drop in US oil rig counts.
  • Both the TSX and S&P 500 energy sectors ended the day higher, rising with broader equity markets.
  • Most Canadian energy subsectors posted gains, except for midstream stocks. Enbridge (ENB -1.7%) was the biggest drag, as it increased its buyout price for Spectra Energy Partners (SEP +3.6%).
  • All US subsectors ended the day higher, once again led by strong gains in refining stocks. Both Andeavor (ANDV +2%) and Marathon Petroleum (MPC +2.7%) hit new highs for the day.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$75.82▲1.550.27
 
79.80
WTI$68.72▲1.345.96
 
74.15
CDN LT$59.47▲1.543.56
 
69.32
C5+$66.87▲1.347.17
 
71.40
WCS$41.97▲2.030.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ AUG 24   █ AUG 17   █ AUG 10   █ AUG 3   (USD/BBL)
ENERGY SECTORS
ENERGY SUB-SECTORS

TSX ENERGY SUB-SECTORS
VERSUS TSX & CDN ENERGY SECTOR

SPX ENERGY SUB-SECTORS
VERSUS SPX & US ENERGY SECTOR
TSX ENERGY STOCKS
TSX BULLISH INDICATORS
TOP 5
  • Nuvista Energy (NVA +3.3%)
  • Birchcliff Energy (BIR +3%)
  • Cenovus Energy (CVE +2.6%)
  • Peyto Exploration (PEY +2.5%)
  • Kelt Exploration (KEL +2.1%)
  • 12-MO HIGHS
  • Precision Drilling (PD -0.6%)
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Parkland Fuel (PKI -2.2%)
  • Enbridge (ENB -1.7%)
  • Keyera (KEY -1.6%)
  • Ensign Energy Services (ESI -1.1%)
  • MEG Energy (MEG -1.1%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU53.80▲0.338.34
     
    55.4789
    Imperial OilIMO41.80▲1.133.43
     
    44.9182
    Husky EnergyHSE21.51▲0.814.28
     
    22.4393
    MIDSTREAM
    EnbridgeENB46.33▼-1.737.36
     
    52.5972
    TransCanadaTRP57.81▼-0.550.28
     
    65.1847
    Pembina PipelinePPL45.61▼-0.637.60
     
    47.8471
    Inter PipelineIPL24.87▲0.121.36
     
    27.9279
    Keyera KEY37.28▼-1.631.20
     
    39.4479
    Gibson EnergyGEI19.940.015.68
     
    20.1794
    LARGE CAP E&P
    Cdn Natural ResCNQ45.47▼-0.636.88
     
    49.0871
    Cenovus EnergyCVE12.61▲2.69.03
     
    14.8486
    EncanaECA16.91▲0.911.05
     
    18.5485
    PrairieSkyPSK24.56▼-0.223.13
     
    35.9015
    TourmalineTOU21.80▲0.417.78
     
    27.2628
    SERVICES
    ShawcorSCL28.63▲0.423.60
     
    30.1086
    Mullen Group MTL16.74▲1.814.10
     
    17.6286
    CES Energy SolutionsCEU5.01▲0.24.26
     
    7.3426
    Pason SystemsPSI21.77▲0.616.05
     
    22.1093
    EnerflexEFX15.96▲0.413.55
     
    19.0865
    REFINING & MARKETING
    Parkland FuelPKI39.09▼-2.223.41
     
    41.3597
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • Concho Resources (CXO +2.7%)
  • Marathon Petroleum (MPC +2.7%)
  • Murphy Oil (MUR +2.5%)
  • Valero Energy (VLO +2.1%)
  • Andeavor (ANDV +2%)
  • 12-MO HIGHS
  • Marathon Petroleum (MPC +2.7%)
  • Andeavor (ANDV +2%)
  • 10-YR HIGHS
  • Marathon Petroleum (MPC +2.7%)
  • Andeavor (ANDV +2%)
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • Chesapeake (CHK -2.4%)
  • Marathon Oil (MRO -0.8%)
  • EQT Corp (EQT -0.6%)
  • Cabot Oil & Gas (COG -0.4%)
  • Noble Energy (NBL -0.1%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM79.62▲0.772.16
     
    89.3044
    ChevronCVX119.01▲0.8106.33
     
    133.8841
    MIDSTREAM
    Kinder MorganKMI17.97▼-0.114.69
     
    19.8559
    Williams CoWMB30.08▼0.024.00
     
    33.6763
    ONEOKOKE67.49▲0.449.65
     
    71.9971
    LARGE CAP E&P
    ConocoPhillipsCOP72.61▲0.842.42
     
    73.7692
    EOG ResourcesEOG117.46▲0.981.99
     
    131.6046
    Occidental PetroleumOXY79.34▲0.558.69
     
    87.6768
    Anadarko PetroleumAPC63.65▲0.939.96
     
    76.7037
    Pioneer Natural ResPXD176.04▲0.7125.46
     
    213.4029
    SERVICES
    SchlumbergerSLB65.25▲0.961.02
     
    80.3530
    HalliburtonHAL40.81▼-0.138.28
     
    57.869
    Baker HughesBHGE32.78▲1.525.53
     
    38.1062
    TechnipFMCFTI30.28▲0.924.53
     
    35.0039
    National-Oilwell VarcoNOV44.78▲0.129.93
     
    49.0881
    REFINERS
    Phillips 66PSX119.25▲0.782.06
     
    123.9790
    Valero EnergyVLO120.55▲2.165.70
     
    126.9896↑
    Marathon PetroleumMPC83.82▲2.750.19
     
    83.8696
    AndeavorANDV155.26▲2.089.58
     
    155.61100
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A65.61▲1.154.87
     
    73.8646
    TotalTOT64.05▲1.951.17
     
    65.6974↑
    BPBP43.42▲1.134.05
     
    47.8360
    EniE38.01▲1.230.99
     
    40.1571
    EquinorEQNR25.92▲0.718.52
     
    28.0670

    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.
    Canadian condensate prices fall over 1% as discount to WTI widens

    Canadian condensate prices fall over 1% as discount to WTI widens

    Oil prices take a pause after 5 days of gains

    Oil prices take a pause after 5 days of gains

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