US inventory drawdowns and record gasoline consumption help boost oil prices

US inventory drawdowns and record gasoline consumption help boost oil prices

Summary of today's energy market action:
  • A drawdown in crude and products stockpiles in the US helped boost oil prices by about 1.5% today.
  • Gasoline prices also rose 1.3% as US gasoline consumption hit a record high of 9.9 million bbl/day.
  • Both the TSX and S&P 500 energy sectors recovered most of yesterday's losses, gaining an average of 0.6%.
  • Midstream stocks were once again the biggest drags on the TSX, led lower by declines in TransCanada (TRP -1.3%) and Inter Pipeline (IPL -1.1%). In constrast, large-cap integrated names and producers mostly posted gains, led higher by Imperial Oil (IMO +1.7%) and Encana (ECA +2.1%).
  • In US markets, E&Ps were also the best performers, led higher by Marathon Oil (MRO +5.2%), Range Resources (RRC +2.7%) and Murphy Oil (MUR +2.6%).
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$77.14▲1.650.86
 
79.80
WTI$69.51▲1.445.96
 
74.15
CDN LT$60.26▲1.743.56
 
69.32
C5+$66.76▲1.547.48
 
71.40
WCS$42.51▲1.730.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ AUG 29   █ AUG 22   █ AUG 15   █ AUG 8   (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
  • Gran Tierra (GTE +7.4%)
  • Encana (ECA +2.1%)
  • MEG Energy (MEG +2.1%)
  • Paramount Resources (POU +1.9%)
  • Imperial Oil (IMO +1.7%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Seven Generations (VII -2.7%)
  • ARC Resources (ARX -2.3%)
  • Birchcliff Energy (BIR -2%)
  • TransCanada (TRP -1.3%)
  • Peyto Exploration (PEY -1.2%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU53.97▲0.738.34
     
    55.4790
    Imperial OilIMO41.58▲1.733.43
     
    44.9175
    Husky EnergyHSE21.63▼-0.914.30
     
    22.4392
    MIDSTREAM
    EnbridgeENB45.00▼-0.737.36
     
    52.5964
    TransCanadaTRP56.44▼-1.350.28
     
    65.1832
    Pembina PipelinePPL44.90▼-0.537.60
     
    47.8461
    Inter PipelineIPL24.42▼-1.121.36
     
    27.9266
    Keyera KEY36.82▼-0.431.20
     
    39.4471
    Gibson EnergyGEI19.78▼-0.615.68
     
    20.1792
    LARGE CAP E&P
    Cdn Natural ResCNQ45.96▲0.636.88
     
    49.0876
    Cenovus EnergyCVE12.60▲0.69.03
     
    14.8486
    EncanaECA17.19▲2.111.05
     
    18.5487
    PrairieSkyPSK24.04▲0.223.13
     
    35.9012
    TourmalineTOU22.21▲1.417.78
     
    27.2648↑
    SERVICES
    ShawcorSCL28.50▼-0.123.60
     
    30.1083
    Mullen Group MTL16.48▲0.714.10
     
    17.6281
    CES Energy SolutionsCEU5.08▲1.44.26
     
    7.3430
    Pason SystemsPSI21.58▼-0.616.05
     
    22.1087
    EnerflexEFX16.10▼-0.613.55
     
    19.0867
    REFINING & MARKETING
    Parkland FuelPKI40.11▼-0.423.41
     
    41.3597
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • Marathon Oil (MRO +5.2%)
  • Transocean (RIG +3.5%)
  • Range Resources (RRC +2.7%)
  • Murphy Oil (MUR +2.6%)
  • Apache (APA +2.3%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • ONEOK (OKE -0.9%)
  • Williams Co (WMB -0.5%)
  • Marathon Petroleum (MPC -0.2%)
  • Andeavor (ANDV -0.1%)
  • Pioneer Natural Res (PXD -0.1%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM80.86▲0.772.16
     
    89.3047
    ChevronCVX120.22▲0.3107.04
     
    133.8840
    MIDSTREAM
    Kinder MorganKMI17.88▲0.414.69
     
    19.8554
    Williams CoWMB29.91▼-0.524.00
     
    33.6756
    ONEOKOKE66.68▼-0.949.65
     
    71.9958↓
    LARGE CAP E&P
    ConocoPhillipsCOP73.54▲2.142.42
     
    73.7694
    EOG ResourcesEOG118.78▲0.781.99
     
    131.6055
    Occidental PetroleumOXY80.23▲0.258.69
     
    87.6770
    Anadarko PetroleumAPC64.99▲0.239.96
     
    76.7043↑
    Pioneer Natural ResPXD175.62▼-0.1125.46
     
    213.4025
    SERVICES
    SchlumbergerSLB64.49▲0.761.02
     
    80.3520
    HalliburtonHAL40.72▲0.138.34
     
    57.866
    Baker HughesBHGE34.00▲1.825.53
     
    38.1072
    TechnipFMCFTI30.86▲0.824.53
     
    35.0041
    National-Oilwell VarcoNOV47.16▲1.629.93
     
    49.0892
    REFINERS
    Phillips 66PSX120.44▲0.682.66
     
    123.9790
    Valero EnergyVLO120.61▲0.267.24
     
    126.9894
    Marathon PetroleumMPC83.72▼-0.250.52
     
    84.7993
    AndeavorANDV155.45▼-0.189.58
     
    156.99100
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A66.27▲0.854.87
     
    73.8644
    TotalTOT63.98▲0.151.28
     
    65.6967
    BPBP43.39▲0.334.21
     
    47.8353
    EniE38.35▲0.831.28
     
    40.1567
    EquinorEQNR26.37▲1.018.52
     
    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.
    Energy stocks sink lower despite higher oil prices

    Energy stocks sink lower despite higher oil prices

    Midstream stocks take a hit as bond yields move higher

    Midstream stocks take a hit as bond yields move higher

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