Energy stocks drag markets lower as OPEC output hits a new high for the year

Energy stocks drag markets lower as OPEC output hits a new high for the year

Summary of today's energy market action:
  • Oil prices retreated today as the US dollar gained ground and the US put two more oil rigs into service this week. OPEC production also reportedly hit a 2018 record high in August.
  • Energy was the worst performing sector on both sides of the border, falling 1.4% on the TSX and 0.7% on the SPX.
  • All TSX energy components ended the day lower, except for MEG Energy (MEG +1.7%) and Secure Energy Services (SES +0.3%).
  • All SPX energy components declined today, led by losses in the energy services subsector.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$77.42▼0.550.86
 
79.80
WTI$69.80▼0.645.96
 
74.15
CDN LT$60.45▼0.943.56
 
69.32
C5+$67.05▼0.747.61
 
71.40
WCS$42.80▼1.030.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ AUG 31   █ AUG 24   █ AUG 17   █ AUG 10   (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
  • MEG Energy (MEG +1.7%)
  • Secure Energy Services (SES +0.3%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Crew Energy (CR -5.6%)
  • ARC Resources (ARX -4.2%)
  • CES Energy Solutions (CEU -3.6%)
  • Tourmaline (TOU -3.6%)
  • Crescent Point (CPG -3.4%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU53.72▼-0.438.79
     
    55.4792
    Imperial OilIMO40.67▼-1.033.43
     
    44.9167
    Husky EnergyHSE21.58▼-0.214.30
     
    22.4392
    MIDSTREAM
    EnbridgeENB44.51▼-1.337.36
     
    52.5961
    TransCanadaTRP55.58▼-1.350.28
     
    65.1825
    Pembina PipelinePPL44.51▼-1.037.60
     
    47.8457
    Inter PipelineIPL23.98▼-1.321.36
     
    27.9250↓
    Keyera KEY35.96▼-1.431.20
     
    39.4456↓
    Gibson EnergyGEI19.38▼-1.515.68
     
    20.1789
    LARGE CAP E&P
    Cdn Natural ResCNQ44.56▼-1.936.88
     
    49.0860↓
    Cenovus EnergyCVE12.10▼-2.09.03
     
    14.8451↓
    EncanaECA17.28▼-0.611.11
     
    18.5487
    PrairieSkyPSK24.00▼-0.823.13
     
    35.9014
    TourmalineTOU21.26▼-3.617.78
     
    27.2623
    SERVICES
    ShawcorSCL27.44▼-2.423.60
     
    30.1075
    Mullen Group MTL16.07▼-1.114.10
     
    17.6271↓
    CES Energy SolutionsCEU4.79▼-3.64.26
     
    7.3413
    Pason SystemsPSI21.30▼-0.916.05
     
    22.1085↓
    EnerflexEFX15.78▼-0.813.55
     
    19.0854
    REFINING & MARKETING
    Parkland FuelPKI40.66▼-0.423.41
     
    41.3597
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • None
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • Baker Hughes (BHGE -3%)
  • Murphy Oil (MUR -2.2%)
  • Chesapeake (CHK -1.9%)
  • Schlumberger (SLB -1.8%)
  • Helmerich & Payne (HP -1.3%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM80.17▼-0.472.16
     
    89.3048
    ChevronCVX118.46▼-1.1107.50
     
    133.8839
    MIDSTREAM
    Kinder MorganKMI17.70▼-0.514.69
     
    19.8556
    Williams CoWMB29.59▼-0.324.00
     
    33.6752↓
    ONEOKOKE65.91▼-0.849.65
     
    71.9961
    LARGE CAP E&P
    ConocoPhillipsCOP73.43▼-0.243.48
     
    74.4395
    EOG ResourcesEOG118.23▼-0.683.61
     
    131.6063
    Occidental PetroleumOXY79.87▼-0.359.28
     
    87.6773
    Anadarko PetroleumAPC64.40▼-0.140.41
     
    76.7044
    Pioneer Natural ResPXD174.70▼0.0127.26
     
    213.4030
    SERVICES
    SchlumbergerSLB63.16▼-1.861.02
     
    80.3518
    HalliburtonHAL39.89▼-0.838.60
     
    57.868
    Baker HughesBHGE32.97▼-3.025.53
     
    38.1055
    TechnipFMCFTI30.63▼-0.824.53
     
    35.0042
    National-Oilwell VarcoNOV47.07▼-0.230.33
     
    49.0892
    REFINERS
    Phillips 66PSX118.51▼-0.982.66
     
    123.9785
    Valero EnergyVLO117.88▼-1.067.24
     
    126.9891
    Marathon PetroleumMPC82.29▼-1.050.52
     
    84.7988↓
    AndeavorANDV152.79▼-0.789.58
     
    156.9999
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A65.23▼-1.654.87
     
    73.8642
    TotalTOT62.74▼-1.451.56
     
    65.6963
    BPBP42.88▼-1.634.35
     
    47.8352
    EniE37.15▼-1.931.29
     
    40.1558
    EquinorEQNR25.77▼-1.918.64
     
    28.0662

    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 heavy discount narrows to US$25 while differential on Canadian Light jumps over US$10

    Canadian heavy discount narrows to US$25 while differential on Canadian Light jumps over US$10

    Energy stocks sink lower despite higher oil prices

    Energy stocks sink lower despite higher oil prices

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