WCS falls to US$38 as heavy oil discount heads back to a 5-year low

WCS falls to US$38 as heavy oil discount heads back to a 5-year low

Summary of today's energy market action:
  • Oil prices mostly gave back yesterday's gains, with WTI falling 0.7% on news that China has begun to curtail crude imports from the US due to ongoing trade wars.
  • The Canadian heavy oil discount to WTI hit US$30.46/bbl, barely topping the February low of US$30.45. Western Canadian Select (WCS) declined 2% today, ending the week at US$38/bbl and now back to the lows of last March.
  • The TSX energy sector declined for the third day in a row, falling 0.4%, mostly on big losses among E&Ps. Among the larger cap names, Encana (ECA -3.7%) led to the downside.
  • Fuel distributor Parkland (PKI +7.8%) had a spectacular day on the release of better-than-expected second quarter earnings. Pembina Pipeline (PPL +1.5%) also broke to new highs on Q2 earnings.
  • The S&P 500 energy sector averaged a 0.5% loss for the day, also led lower by E&P stocks.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$73.21▼0.348.60
 
79.80
WTI$68.49▼0.745.96
 
74.15
CDN LT$62.98▼1.443.56
 
69.32
C5+$67.30▼0.846.44
 
71.40
WCS$38.03▼2.030.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ AUG 3   █ JUL 27   █ JUL 20   █ JUL 13   (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 GAINERS
  • Pembina Pipeline (PPL +1.5%)
  • Parkland Fuel (PKI +7.8%)
  • Altagas (ALA +2.1%)
  • Raging River (RRX +1.4%)
  • Seven Generations (VII +2%)
  • 12-MO HIGHS
  • Pembina Pipeline (PPL +1.5%)
  • 10-YR HIGHS
  • Parkland Fuel (PKI +7.8%)
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    TOP 5 LOSERS
  • Encana (ECA -3.7%)
  • Advantage Oil & Gas (AAV -4.5%)
  • Crew Energy (CR -4.9%)
  • Kelt Exploration (KEL -1.7%)
  • MEG Energy (MEG -4.6%)
  • 12-MO LOWS
  • CES Energy Solutions (CEU -0.7%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU53.72▲0.238.34
     
    55.4792
    Imperial OilIMO43.06▲0.133.43
     
    44.9185
    Husky EnergyHSE21.76▼-0.814.10
     
    22.1595↓
    MIDSTREAM
    EnbridgeENB46.53▲0.737.36
     
    53.0079
    TransCanadaTRP58.75▼-0.350.28
     
    65.1878
    Pembina PipelinePPL47.52▲1.537.60
     
    47.5991
    Inter PipelineIPL24.72▲0.021.36
     
    27.9274
    Keyera KEY37.96▲1.231.20
     
    39.4488
    Enbridge Income FundENF32.73▲1.126.36
     
    33.0593
    Gibson EnergyGEI18.71▲1.015.68
     
    19.3891
    LARGE CAP E&P
    Canadian NaturalCNQ46.27▼-0.436.88
     
    49.0879
    Cenovus EnergyCVE13.15▲0.39.03
     
    14.8482
    EncanaECA17.82▼-3.711.05
     
    18.5494
    PrairieSkyPSK24.04▲0.123.51
     
    35.908
    TourmalineTOU24.66▼-1.217.78
     
    27.2689
    SERVICES
    ShawcorSCL26.40▲1.223.60
     
    30.1050
    Mullen Group MTL16.16▲0.814.10
     
    17.6281
    CES Energy SolutionsCEU4.35▼-0.74.33
     
    7.344
    Pason SystemsPSI20.00▲0.416.05
     
    21.9676
    EnerflexEFX14.93▲1.213.55
     
    19.0858
    REFINING & MARKETING
    Parkland FuelPKI37.93▲7.823.41
     
    38.6297
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5 GAINERS
  • Apache (APA +1.7%)
  • Chesapeake (CHK +1.1%)
  • Cabot Oil & Gas (COG +1.6%)
  • EQT Corp (EQT +1.7%)
  • Range Resources (RRC +2%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    TOP 5 LOSERS
  • EOG Resources (EOG -2.8%)
  • Pioneer Natural Res (PXD -2.4%)
  • Concho Resources (CXO -6%)
  • Noble Energy (NBL -8.2%)
  • Cimarex Energy (XEC -2.2%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM80.20▲0.472.16
     
    89.3032
    ChevronCVX124.05▲0.2105.30
     
    133.8852
    MIDSTREAM
    Kinder MorganKMI17.62▼-0.314.69
     
    20.3447
    Williams CoWMB31.14▲0.524.00
     
    33.6787↑
    ONEOKOKE67.51▼-1.549.65
     
    71.9974
    LARGE CAP E&P
    ConocoPhillipsCOP71.29▼-0.442.27
     
    72.9492
    EOG ResourcesEOG122.41▼-2.881.99
     
    131.6058
    Occidental PetroleumOXY82.29▲0.158.44
     
    87.6771
    Anadarko PetroleumAPC68.26▼-2.039.96
     
    76.7062
    Pioneer Natural ResPXD184.11▼-2.4125.46
     
    213.4042
    SERVICES
    SchlumbergerSLB65.89▼-0.161.02
     
    80.3517
    HalliburtonHAL42.05▲0.438.18
     
    57.865
    Baker HughesBHGE33.88▼-0.225.53
     
    38.1058↓
    TechnipFMCFTI31.21▼-1.424.53
     
    35.0032↓
    National-Oilwell VarcoNOV47.03▼-0.729.90
     
    49.0897
    REFINERS
    Phillips 66PSX121.66▼-0.380.73
     
    123.9295
    Valero EnergyVLO115.38▲0.164.22
     
    126.9894
    Marathon PetroleumMPC79.09▼-0.849.30
     
    83.3391↓
    AndeavorANDV147.18▼-0.989.58
     
    152.9799
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A66.32▲0.354.27
     
    73.8633
    TotalTOT63.62▼-0.249.75
     
    65.6981
    BPBP43.97▲0.533.90
     
    47.8350
    EniE37.64▼-0.330.13
     
    40.1556
    EquinorEQNR26.15▲0.118.10
     
    28.0675

    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 post gains despite strengthening greenback

    Oil prices post gains despite strengthening greenback

    Oil prices rise despite jump in US dollar

    Oil prices rise despite jump in US dollar

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