Oil prices give back recent gains after IEA warns of record global supply

Oil prices give back recent gains after IEA warns of record global supply

Summary of today's energy market action:
  • Oil prices declined over 2%, giving back all of yesterday's gains after the IEA warned that world oil supply topped a record 100 million bbl/day in August.
  • The Canadian heavy oil discount widened to more than US$29/bbl, sending WCS tumbling 6%.
  • The TSX energy sector slumped another 0.3% today, once again dragged lower by energy service stocks.
  • Altagas (ALA.TO -3.9%) posted the largest decline after the company announced plans to IPO its Canadian utility operations. Canadian Natural Resources (CNQ.TO +1.2%) rebounded after several days of losses.
  • In US markets, the S&P 500 energy sector ended the day unchanged.
  • European energy ADRs posted gains again today as the US dollar dropped another 0.3%.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$78.18▼2.052.38
 
79.80
WTI$68.59▼2.547.23
 
74.15
CDN LT$51.80▼3.544.63
 
69.32
C5+$57.91▼3.148.88
 
71.40
WCS$39.55▼5.730.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ SEP 13   █ SEP 6   █ AUG 30   █ AUG 23   (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
  • Tourmaline (TOU +4.6%)
  • Seven Generations (VII +1.6%)
  • Secure Energy Services (SES +1.2%)
  • Cdn Natural Res (CNQ +1.2%)
  • Keyera (KEY +1.2%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • Secure Energy Services (SES +1.2%)
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Altagas (ALA -3.9%)
  • Precision Drilling (PD -2.9%)
  • Trican Well (TCW -2.8%)
  • Baytex Energy (BTE -2.7%)
  • Parex Resources (PXT -2.4%)
  • 12-MO LOWS
  • CES Energy Solutions (CEU 0%)
  • Advantage Oil & Gas (AAV 0%)
  • Trican Well (TCW -2.8%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • Whitecap Resources (WCP -1.5%)
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU49.91▼-0.440.49
     
    55.4777↓
    Imperial OilIMO38.66▲0.933.43
     
    44.9155
    Husky EnergyHSE21.21▼-0.214.51
     
    22.4393
    MIDSTREAM
    EnbridgeENB44.43▲0.037.36
     
    52.5969
    TransCanadaTRP55.07▲0.250.28
     
    65.1831
    Pembina PipelinePPL42.96▼-0.637.60
     
    47.8442
    Inter PipelineIPL23.24▼-0.321.36
     
    27.9236
    Keyera KEY35.71▲1.231.20
     
    39.4470
    Gibson EnergyGEI19.13▼-0.515.68
     
    20.1792
    LARGE CAP E&P
    Cdn Natural ResCNQ41.69▲1.236.88
     
    49.0836
    Cenovus EnergyCVE11.66▼-1.09.03
     
    14.8442
    EncanaECA15.74▼-1.311.76
     
    18.5452
    PrairieSkyPSK23.83▲0.223.03
     
    35.9018
    TourmalineTOU21.43▲4.617.78
     
    27.2660↑
    SERVICES
    ShawcorSCL25.26▲0.123.60
     
    30.1030
    Mullen Group MTL14.76▼-0.614.10
     
    17.6228↓
    CES Energy SolutionsCEU4.260.04.14
     
    7.347
    Pason SystemsPSI20.27▼-1.016.05
     
    22.1075
    EnerflexEFX15.70▲1.013.55
     
    19.0855
    REFINING & MARKETING
    Parkland FuelPKI42.94▲0.323.41
     
    43.0898
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • HollyFrontier (HFC +2%)
  • ONEOK (OKE +1.3%)
  • EQT Corp (EQT +1.3%)
  • Range Resources (RRC +1.2%)
  • Occidental Petroleum (OXY +1.2%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • Devon Energy (DVN -2.6%)
  • Murphy Oil (MUR -1.7%)
  • Helmerich & Payne (HP -1.6%)
  • Newfield Exploration (NFX -1.4%)
  • Apache (APA -1.3%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM82.32▼-1.072.16
     
    89.3064
    ChevronCVX116.30▲0.4108.02
     
    133.8834
    MIDSTREAM
    Kinder MorganKMI18.30▲0.814.69
     
    19.8568
    Williams CoWMB28.19▼-0.724.00
     
    33.6738
    ONEOKOKE65.96▲1.349.65
     
    71.9961
    LARGE CAP E&P
    ConocoPhillipsCOP72.55▲0.845.00
     
    74.4392↑
    EOG ResourcesEOG116.62▼-0.389.07
     
    131.6060
    Occidental PetroleumOXY76.64▲1.260.90
     
    87.6762
    Anadarko PetroleumAPC62.44▲1.142.02
     
    76.7039
    Pioneer Natural ResPXD170.17▲0.1130.44
     
    213.4030↑
    SERVICES
    SchlumbergerSLB61.02▲0.359.25
     
    80.3518
    HalliburtonHAL38.43▲0.835.75
     
    57.868
    Baker HughesBHGE32.28▼-0.425.53
     
    38.1041
    TechnipFMCFTI29.69▼-1.124.53
     
    35.0040
    National-Oilwell VarcoNOV44.26▼-1.031.47
     
    49.0873
    REFINERS
    Phillips 66PSX113.02▲0.885.52
     
    123.9764
    Valero EnergyVLO116.83▲0.469.53
     
    126.9888
    Marathon PetroleumMPC84.09▼-0.152.26
     
    85.3490
    AndeavorANDV155.91▲0.089.58
     
    157.6599
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A64.72▲0.557.12
     
    73.8647
    TotalTOT62.85▲0.852.95
     
    65.6965
    BPBP43.42▲0.735.87
     
    47.8362
    EniE37.55▲0.931.58
     
    40.1561↑
    EquinorEQNR26.52▲0.619.23
     
    28.0679

    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.
    TSX energy basket posts 5-days of declines as heavy oil discount widens to almost US$30 a barrel

    TSX energy basket posts 5-days of declines as heavy oil discount widens to almost US$30 a barrel

    Canadian energy stocks lag US counterparts despite rising oil prices

    Canadian energy stocks lag US counterparts despite rising oil prices

    0