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

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

Summary of today's energy market action:
  • Oil prices jumped higher today as Hurricane Florence heads towards the US Atlantic later this week and API forecasted a crude stockpile drawdown of 8.6 million barrels.
  • Gasoline prices spiked over 2% on concerns of refinery outages on the East Coast and potential supply disruptions from the 3 million bbl/day Colonial Pipeline. Gas stations along the Eastern Seaboard are already reporting fuel shortages, as more the 1 million residents were put on evacuation alert.
  • The spread between WTI and Brent approached US$10 a barrel today as sanctions against Iran continue to weight on international oil prices.
  • The TSX energy sector was roughly unchanged for the day, as heavy-weights Imperial Oil (IMO.TO -1.7%) and Cdn Natural Resources (CNQ.TO -1.9%) offset a good performance in the midstream space.
  • Suncor Energy (SU -0.1%) ended the day unscathed despite a downgrade at JP Morgan.
  • In US markets, energy was the best performing sector, gaining 1%. All US energy subsectors posted gains for the day.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$79.06▲2.250.86
 
79.80
WTI$69.25▲2.545.96
 
74.15
CDN LT$52.38▲4.043.56
 
69.32
C5+$58.66▲2.347.61
 
71.40
WCS$41.72▲3.330.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ SEP 11   █ SEP 4   █ AUG 28   █ AUG 21   (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
  • Precision Drilling (PD +5.4%)
  • Crescent Point (CPG +4.9%)
  • Parex Resources (PXT +4.8%)
  • Baytex Energy (BTE +4.6%)
  • Gran Tierra (GTE +4.5%)
  • 12-MO HIGHS
  • Parkland Fuel (PKI +2.1%)
  • 10-YR HIGHS
  • Parkland Fuel (PKI +2.1%)
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • CES Energy Solutions (CEU -2.9%)
  • Trican Well (TCW -2.3%)
  • MEG Energy (MEG -2.1%)
  • Cdn Natural Res (CNQ -1.9%)
  • Imperial Oil (IMO -1.7%)
  • 12-MO LOWS
  • Trican Well (TCW -2.3%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU50.63▼-0.139.61
     
    55.4781
    Imperial OilIMO38.00▼-1.733.43
     
    44.9132↓
    Husky EnergyHSE21.48▲0.114.30
     
    22.4393
    MIDSTREAM
    EnbridgeENB45.00▲1.337.36
     
    52.5968
    TransCanadaTRP55.54▲0.650.28
     
    65.1832
    Pembina PipelinePPL43.49▲0.237.60
     
    47.8449
    Inter PipelineIPL23.15▲0.621.36
     
    27.9235
    Keyera KEY35.28▲1.331.20
     
    39.4455
    Gibson EnergyGEI18.87▲1.815.68
     
    20.1787
    LARGE CAP E&P
    Cdn Natural ResCNQ41.86▼-1.936.88
     
    49.0833↓
    Cenovus EnergyCVE11.82▼-0.29.03
     
    14.8441
    EncanaECA16.07▲1.711.21
     
    18.5460
    PrairieSkyPSK23.72▼-1.623.03
     
    35.9018
    TourmalineTOU20.42▲1.917.78
     
    27.2621
    SERVICES
    ShawcorSCL24.87▼-1.523.60
     
    30.1022
    Mullen Group MTL14.98▼-0.914.10
     
    17.6231
    CES Energy SolutionsCEU4.37▼-2.94.26
     
    7.348
    Pason SystemsPSI20.61▲0.816.05
     
    22.1079
    EnerflexEFX15.470.013.55
     
    19.0833
    REFINING & MARKETING
    Parkland FuelPKI42.71▲2.123.41
     
    42.9897
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • Murphy Oil (MUR +3.8%)
  • Concho Resources (CXO +3%)
  • Hess Corp (HES +2.9%)
  • Range Resources (RRC +2.9%)
  • Devon Energy (DVN +2.4%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • Phillips 66 (PSX -1.2%)
  • Anadarko Petroleum (APC -0.6%)
  • Chesapeake (CHK -0.5%)
  • Valero Energy (VLO -0.1%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM82.86▲1.472.16
     
    89.3073
    ChevronCVX115.02▲0.5108.02
     
    133.8830
    MIDSTREAM
    Kinder MorganKMI18.01▲1.814.69
     
    19.8562
    Williams CoWMB28.57▲0.224.00
     
    33.6741
    ONEOKOKE65.02▲0.749.65
     
    71.9954
    LARGE CAP E&P
    ConocoPhillipsCOP71.47▲0.544.50
     
    74.4391
    EOG ResourcesEOG116.22▲1.786.48
     
    131.6058
    Occidental PetroleumOXY77.12▲0.360.12
     
    87.6766
    Anadarko PetroleumAPC62.57▼-0.640.64
     
    76.7038↓
    Pioneer Natural ResPXD166.42▲2.0127.96
     
    213.4021
    SERVICES
    SchlumbergerSLB60.32▲0.659.25
     
    80.3515
    HalliburtonHAL37.35▲1.835.75
     
    57.865
    Baker HughesBHGE32.59▲2.125.53
     
    38.1045
    TechnipFMCFTI29.45▲2.224.53
     
    35.0035
    National-Oilwell VarcoNOV44.38▲1.731.47
     
    49.0871
    REFINERS
    Phillips 66PSX112.55▼-1.284.43
     
    123.9762↓
    Valero EnergyVLO115.10▼-0.168.80
     
    126.9885
    Marathon PetroleumMPC83.52▲1.352.26
     
    85.3490
    AndeavorANDV154.94▲1.189.58
     
    157.6599
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A63.92▲1.556.54
     
    73.8642
    TotalTOT61.71▲2.952.94
     
    65.6956
    BPBP42.65▲1.335.35
     
    47.8357
    EniE36.96▲0.731.58
     
    40.1556
    EquinorEQNR25.88▲3.618.88
     
    28.0667

    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 energy stocks lag US counterparts despite rising oil prices

    Canadian energy stocks lag US counterparts despite rising oil prices

    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

    0