Cdn Light and condensate prices sink lower as discounts to WTI widen further

Cdn Light and condensate prices sink lower as discounts to WTI widen further

Summary of today's energy market action:
  • Canadian oil prices continued their downward slide today, particularly Canadian Light and Edmonton Condensate, as discounts to WTI widened to over US$17 and US$10 a barrel, respectively.
  • Canadian energy stocks declined 1% while the US energy basket ended the day roughly unchanged.
  • On the TSX, all energy subsectors ended the day lower, with energy services stocks leading the declines.
  • Cenovus Energy (CVE.TO +1.1%) bucked the trend on an upgrade by JP Morgan. Altagas (ALA.TO +2.7%) also ended the day higher on the sale of more midstream and power assets in Canada and California. Parkland Fuel (PKI.TO +0.4%) broke out to another record high.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$77.37▲0.750.86
 
79.80
WTI$67.54▼0.345.96
 
74.15
CDN LT$50.36▼3.543.56
 
69.32
C5+$57.33▼7.447.61
 
71.40
WCS$40.37▼1.330.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ SEP 10   █ SEP 3   █ AUG 27   █ AUG 20   (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
  • Parex Resources (PXT +4.6%)
  • Altagas (ALA +2.7%)
  • Cenovus Energy (CVE +1.1%)
  • Paramount Resources (POU +0.8%)
  • Parkland Fuel (PKI +0.4%)
  • 12-MO HIGHS
  • Parkland Fuel (PKI +0.4%)
  • 10-YR HIGHS
  • Parkland Fuel (PKI +0.4%)
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Crew Energy (CR -3.9%)
  • Trican Well (TCW -3.7%)
  • Whitecap Resources (WCP -3.2%)
  • MEG Energy (MEG -3.2%)
  • CES Energy Solutions (CEU -3%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU50.70▼-1.439.55
     
    55.4784
    Imperial OilIMO38.66▼-1.533.43
     
    44.9138
    Husky EnergyHSE21.47▼-2.114.30
     
    22.4393
    MIDSTREAM
    EnbridgeENB44.43▼-1.037.36
     
    52.5963
    TransCanadaTRP55.23▼-0.750.28
     
    65.1831
    Pembina PipelinePPL43.39▼-0.337.60
     
    47.8443
    Inter PipelineIPL23.02▼-1.121.36
     
    27.9234
    Keyera KEY34.83▼-0.431.20
     
    39.4440
    Gibson EnergyGEI18.53▼-0.115.68
     
    20.1781
    LARGE CAP E&P
    Cdn Natural ResCNQ42.67▼-0.236.88
     
    49.0843
    Cenovus EnergyCVE11.84▲1.19.03
     
    14.8442
    EncanaECA15.80▼-2.111.11
     
    18.5443↓
    PrairieSkyPSK24.11▼-2.423.03
     
    35.9022
    TourmalineTOU20.05▼-0.617.78
     
    27.2617
    SERVICES
    ShawcorSCL25.24▼-1.023.60
     
    30.1025
    Mullen Group MTL15.12▼-2.514.10
     
    17.6234
    CES Energy SolutionsCEU4.50▼-3.04.26
     
    7.3410
    Pason SystemsPSI20.44▼-1.716.05
     
    22.1070↓
    EnerflexEFX15.47▼-1.013.55
     
    19.0833
    REFINING & MARKETING
    Parkland FuelPKI41.84▲0.423.41
     
    42.4297
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • Baker Hughes (BHGE +1.6%)
  • ConocoPhillips (COP +1.3%)
  • Chesapeake (CHK +1.2%)
  • Cimarex Energy (XEC +1.1%)
  • Apache (APA +1%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • ONEOK (OKE -1.9%)
  • National-Oilwell Varco (NOV -1.3%)
  • EQT Corp (EQT -1.3%)
  • Marathon Oil (MRO -0.8%)
  • Kinder Morgan (KMI -0.7%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM81.71▼-0.272.16
     
    89.3066
    ChevronCVX114.48▼-0.1108.02
     
    133.8827
    MIDSTREAM
    Kinder MorganKMI17.69▼-0.714.69
     
    19.8555
    Williams CoWMB28.52▼-0.224.00
     
    33.6741
    ONEOKOKE64.56▼-1.949.65
     
    71.9951
    LARGE CAP E&P
    ConocoPhillipsCOP71.15▲1.344.10
     
    74.4390
    EOG ResourcesEOG114.32▼-0.186.08
     
    131.6050
    Occidental PetroleumOXY76.88▲0.359.78
     
    87.6767
    Anadarko PetroleumAPC63.18▼-0.640.54
     
    76.7042
    Pioneer Natural ResPXD163.22▲0.6127.26
     
    213.4014
    SERVICES
    SchlumbergerSLB59.98▲0.559.25
     
    80.3512
    HalliburtonHAL36.69▼-0.335.75
     
    57.863
    Baker HughesBHGE31.93▲1.625.53
     
    38.1038
    TechnipFMCFTI28.81▲0.424.53
     
    35.0023
    National-Oilwell VarcoNOV43.65▼-1.331.47
     
    49.0863
    REFINERS
    Phillips 66PSX113.95▼-0.383.96
     
    123.9769↓
    Valero EnergyVLO115.25▲0.268.73
     
    126.9885
    Marathon PetroleumMPC82.43▼-0.152.26
     
    85.3488
    AndeavorANDV153.22▼-0.189.58
     
    157.6599
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A62.96▼-0.656.41
     
    73.8634↓
    TotalTOT60.00▼-0.352.69
     
    65.6945↓
    BPBP42.09▲0.135.24
     
    47.8348
    EniE36.68▲0.831.58
     
    40.1554
    EquinorEQNR24.98▲0.318.88
     
    28.0652

    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.
    Gasoline and crude prices spike as Hurricane Florence threatens the Eastern Seaboard

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    Canadian crude prices sink lower as discounts to WTI continue to widen

    Canadian crude prices sink lower as discounts to WTI continue to widen

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