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

Summary of today's energy market action:
  • A mixed bag in oil markets today as Brent and WCS ended the day roughly unchanged, while WTI, Canadian Light and Edmonton Condensate rose about 0.7%.
  • The Canadian heavy oil discount widened to US$29.50 a barrel on Friday, now up almost US$5 from early September and US$10 higher than mid-July.
  • Gasoline prices sank over 1%, giving back most of this week's gains.
  • Canadian and US energy stocks went their opposite ways again today, as the TSX energy sector declined 0.3% and the S&P 500 energy basket gained 0.6%. Friday marked the fifth consecutive day of declines for the Canadian energy sector while the US posted four days of gains.
  • Canadian producers and midstream stocks were the worst performers on the TSX, led lower by declines in TransCanada (TRP.TO -1.0%) and Cenovus Energy (CVE.TO -0.9%).
  • AltaGas (ALA.TO -2.9%) slid to a 12-month low, as investors continue to digest the company's pending IPO and asset sales.
  • Most US energy components ended the day higher. Midstream names Kinder Morgan (KMI -1.3%) and Williams Co (WMB -0.4%) were notable exceptions, dipping lower on Friday as US bond yields ticked higher. Baker Hughes (BHGE -2.2%) also dragged the sector lower.
  • Devon Energy (DVN -2.9%) also declined despite announcing plans to increase its share buyback program and boost its quarterly dividend.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$78.09▼0.152.75
 
79.80
WTI$68.99▲0.647.29
 
74.15
CDN LT$52.16▲0.744.69
 
69.32
C5+$58.30▲0.749.05
 
71.40
WCS$39.46▼0.230.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ SEP 14   █ SEP 7   █ AUG 31   █ AUG 24   (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
  • Crescent Point (CPG +2.3%)
  • Trican Well (TCW +1.6%)
  • Advantage Oil & Gas (AAV +1.5%)
  • Precision Drilling (PD +1.5%)
  • CES Energy Solutions (CEU +1.4%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Paramount Resources (POU -3%)
  • Seven Generations (VII -2.9%)
  • Altagas (ALA -2.7%)
  • Nuvista Energy (NVA -2.3%)
  • Ensign Energy Services (ESI -2.2%)
  • 12-MO LOWS
  • Altagas (ALA -2.7%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU49.82▼-0.240.49
     
    55.4773↓
    Imperial OilIMO38.99▲0.933.43
     
    44.9163
    Husky EnergyHSE21.23▲0.114.66
     
    22.4390
    MIDSTREAM
    EnbridgeENB44.15▼-0.637.36
     
    52.5963
    TransCanadaTRP54.54▼-1.050.28
     
    65.1827
    Pembina PipelinePPL43.01▲0.137.60
     
    47.8441
    Inter PipelineIPL23.07▼-0.721.36
     
    27.9233
    Keyera KEY35.74▲0.131.20
     
    39.4466
    Gibson EnergyGEI19.14▲0.115.68
     
    20.1791
    LARGE CAP E&P
    Cdn Natural ResCNQ41.45▼-0.636.88
     
    49.0831
    Cenovus EnergyCVE11.55▼-0.99.03
     
    14.8430
    EncanaECA15.89▲1.012.37
     
    18.5453
    PrairieSkyPSK23.79▼-0.223.03
     
    35.9018
    TourmalineTOU21.26▼-0.817.78
     
    27.2642
    SERVICES
    ShawcorSCL25.30▲0.223.60
     
    30.1029
    Mullen Group MTL14.88▲0.814.10
     
    17.6232
    CES Energy SolutionsCEU4.32▲1.44.14
     
    7.348
    Pason SystemsPSI20.24▼-0.216.05
     
    22.1074
    EnerflexEFX15.65▼-0.313.55
     
    19.0852
    REFINING & MARKETING
    Parkland FuelPKI43.00▲0.123.41
     
    43.0898
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • Cimarex Energy (XEC +2.6%)
  • Newfield Exploration (NFX +2.2%)
  • Transocean (RIG +2.2%)
  • Apache (APA +2.1%)
  • TechnipFMC (FTI +1.5%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • Devon Energy (DVN -2.9%)
  • HollyFrontier (HFC -2.3%)
  • Baker Hughes (BHGE -2.2%)
  • Kinder Morgan (KMI -1.3%)
  • Cabot Oil & Gas (COG -0.6%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM82.92▲0.772.16
     
    89.3069
    ChevronCVX117.38▲0.9108.02
     
    133.8839↑
    MIDSTREAM
    Kinder MorganKMI18.06▼-1.314.69
     
    19.8565
    Williams CoWMB28.09▼-0.424.00
     
    33.6741
    ONEOKOKE66.39▲0.749.65
     
    71.9967↑
    LARGE CAP E&P
    ConocoPhillipsCOP73.50▲1.345.65
     
    74.4394↑
    EOG ResourcesEOG117.82▲1.091.17
     
    131.6067
    Occidental PetroleumOXY77.58▲1.261.09
     
    87.6770
    Anadarko PetroleumAPC63.01▲0.943.13
     
    76.7047
    Pioneer Natural ResPXD170.43▲0.2135.31
     
    213.4030↑
    SERVICES
    SchlumbergerSLB61.23▲0.359.25
     
    80.3518
    HalliburtonHAL38.63▲0.535.75
     
    57.869
    Baker HughesBHGE31.56▼-2.225.53
     
    38.1032
    TechnipFMCFTI30.13▲1.524.53
     
    35.0046
    National-Oilwell VarcoNOV44.30▲0.131.47
     
    49.0875
    REFINERS
    Phillips 66PSX113.60▲0.585.95
     
    123.9771
    Valero EnergyVLO117.13▲0.369.53
     
    126.9888
    Marathon PetroleumMPC84.34▲0.352.26
     
    85.3490
    AndeavorANDV156.09▲0.189.58
     
    157.6599
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A64.48▼-0.457.28
     
    73.8645
    TotalTOT62.64▼-0.152.95
     
    65.6963
    BPBP43.26▼-0.436.15
     
    47.8362↑
    EniE37.23▼-0.931.58
     
    40.1554
    EquinorEQNR26.44▼-0.319.34
     
    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.
    Canadian light and heavy differentials widened to 5-year high

    Canadian light and heavy differentials widened to 5-year high

    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

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