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

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

Summary of today's energy market action:
  • Oil prices ticked slightly higher as the US dollar dipped 0.4% for the day.
  • Condensate (C5+) prices in Edmonton declined over 1% as the discount to WTI widened to US$2.75/bbl.
  • The energy sector continues to recover from the lows of mid August, gaining almost 1% on both sides of the border.
  • Cdn midstream stocks were the biggest drag among TSX energy components, as both Enbridge (ENB -0.5%) and TransCanada (TRP -0.4%) declined for the day. All other Canadian subsectors posted gains for the day.
  • All US energy subsectors ended the day higher, led by large-cap integrated names.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$76.21▲0.550.27
 
79.80
WTI$68.87▲0.245.96
 
74.15
CDN LT$59.62▲0.343.56
 
69.32
C5+$66.12▼1.147.17
 
71.40
WCS$42.12▲0.430.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ AUG 27   █ AUG 20   █ AUG 13   █ AUG 6   (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
  • Seven Generations (VII +3.3%)
  • Trican Well (TCW +3.3%)
  • Raging River (RRX +3.1%)
  • Peyto Exploration (PEY +2.9%)
  • Crew Energy (CR +2.5%)
  • 12-MO HIGHS
  • Precision Drilling (PD +1.7%)
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • MEG Energy (MEG -1.6%)
  • Mullen Group (MTL -1.4%)
  • Parex Resources (PXT -1.3%)
  • PrairieSky (PSK -1.2%)
  • Imperial Oil (IMO -0.6%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • Baytex Energy (BTE -0.2%)
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU54.16▲0.738.34
     
    55.4790
    Imperial OilIMO41.54▼-0.633.43
     
    44.9175
    Husky EnergyHSE21.91▲1.914.30
     
    22.4394
    MIDSTREAM
    EnbridgeENB46.11▼-0.537.36
     
    52.5978
    TransCanadaTRP57.58▼-0.450.28
     
    65.1846
    Pembina PipelinePPL45.63▲0.037.60
     
    47.8471
    Inter PipelineIPL24.91▲0.221.36
     
    27.9281
    Keyera KEY37.72▲1.231.20
     
    39.4484
    Gibson EnergyGEI19.87▼-0.415.68
     
    20.1793
    LARGE CAP E&P
    Cdn Natural ResCNQ46.15▲1.536.88
     
    49.0877
    Cenovus EnergyCVE12.70▲0.79.03
     
    14.8487
    EncanaECA16.93▲0.111.05
     
    18.5486
    PrairieSkyPSK24.27▼-1.223.13
     
    35.9012
    TourmalineTOU22.00▲0.917.78
     
    27.2632
    SERVICES
    ShawcorSCL28.58▼-0.223.60
     
    30.1082
    Mullen Group MTL16.51▼-1.414.10
     
    17.6282
    CES Energy SolutionsCEU5.09▲1.64.26
     
    7.3431
    Pason SystemsPSI21.78▲0.116.05
     
    22.1093
    EnerflexEFX15.95▼-0.113.55
     
    19.0860
    REFINING & MARKETING
    Parkland FuelPKI39.86▲2.023.41
     
    41.3597
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • Noble Energy (NBL +2.9%)
  • National-Oilwell Varco (NOV +2.6%)
  • TechnipFMC (FTI +1.7%)
  • Hess Corp (HES +1.6%)
  • Baker Hughes (BHGE +1.5%)
  • 12-MO HIGHS
  • Marathon Petroleum (MPC -0.2%)
  • Andeavor (ANDV +0%)
  • 10-YR HIGHS
  • Andeavor (ANDV +0%)
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • EQT Corp (EQT -2.3%)
  • Range Resources (RRC -1.1%)
  • Cabot Oil & Gas (COG -0.7%)
  • Schlumberger (SLB -0.6%)
  • Murphy Oil (MUR -0.6%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • EQT Corp (EQT -2.3%)
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM80.40▲1.072.16
     
    89.3046
    ChevronCVX120.35▲1.1107.04
     
    133.8842
    MIDSTREAM
    Kinder MorganKMI17.970.014.69
     
    19.8559
    Williams CoWMB30.32▲0.824.00
     
    33.6765
    ONEOKOKE67.81▲0.549.65
     
    71.9971
    LARGE CAP E&P
    ConocoPhillipsCOP72.84▲0.342.42
     
    73.7693↑
    EOG ResourcesEOG118.65▲1.081.99
     
    131.6055
    Occidental PetroleumOXY80.21▲1.158.69
     
    87.6771↑
    Anadarko PetroleumAPC64.55▲1.439.96
     
    76.7040↑
    Pioneer Natural ResPXD177.39▲0.8125.46
     
    213.4028
    SERVICES
    SchlumbergerSLB64.85▼-0.661.02
     
    80.3523
    HalliburtonHAL41.01▲0.538.28
     
    57.867
    Baker HughesBHGE33.28▲1.525.53
     
    38.1070↑
    TechnipFMCFTI30.78▲1.724.53
     
    35.0043
    National-Oilwell VarcoNOV45.94▲2.629.93
     
    49.0888
    REFINERS
    Phillips 66PSX120.03▲0.782.66
     
    123.9792
    Valero EnergyVLO121.21▲0.667.24
     
    126.9896↑
    Marathon PetroleumMPC83.68▼-0.250.52
     
    84.7995
    AndeavorANDV155.38▲0.089.58
     
    156.99100
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A66.05▲0.754.87
     
    73.8644
    TotalTOT65.00▲1.551.28
     
    65.6979↑
    BPBP43.87▲1.034.21
     
    47.8365↑
    EniE38.53▲1.431.02
     
    40.1574
    EquinorEQNR26.28▲1.418.52
     
    28.0672

    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.
    Midstream stocks take a hit as bond yields move higher

    Midstream stocks take a hit as bond yields move higher

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

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

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