Canadian light and heavy differentials widened to 5-year high

Canadian light and heavy differentials widened to 5-year high

Summary of today's energy market action:
  • Despite a decline in the US dollar, Brent and WTI were roughly unchanged for the day.
  • Expiry of October contracts for Canadian oil last Friday dropped the differential on Edmonton Condensate (C5+) but widened the discount on both Canadian Light and WCS. The differential for Canadian light and heavy widened to levels last seen in late 2013, when WTI was trading closer to US$100 a barrel.
  • The TSX energy sector declined another 0.7% today, its sixth-straight day of losses. Producers were the hardest hit subsector while large-cap midstream stocks posted the biggest gains.
  • The S&P 500 energy sector eked out a small gain, mainly on a good showing from large-cap midstream and integrated names. Independent refiners were the worst performing subsector, falling almost 1%.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$78.05▼0.153.38
 
79.80
WTI$68.91▼0.147.48
 
74.15
CDN LT$50.91▼2.444.88
 
69.32
C5+$62.91▲7.949.18
 
71.40
WCS$36.91▼6.530.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ SEP 17   █ SEP 10   █ SEP 3   █ AUG 27   (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 +1.6%)
  • Husky Energy (HSE +1.5%)
  • TransCanada (TRP +1.3%)
  • Enbridge (ENB +1.3%)
  • CES Energy Solutions (CEU +0.9%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • PrairieSky (PSK -3.1%)
  • ARC Resources (ARX -2.7%)
  • Gran Tierra (GTE -2.6%)
  • Trican Well (TCW -2.4%)
  • Paramount Resources (POU -2.4%)
  • 12-MO LOWS
  • PrairieSky (PSK -3.1%)
  • Altagas (ALA -2.1%)
  • Paramount Resources (POU -2.4%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU49.77▼-0.140.49
     
    55.4775
    Imperial OilIMO39.00▲0.033.43
     
    44.9163↑
    Husky EnergyHSE21.54▲1.514.74
     
    22.4392
    MIDSTREAM
    EnbridgeENB44.70▲1.337.36
     
    52.5973
    TransCanadaTRP55.25▲1.350.28
     
    65.1837
    Pembina PipelinePPL43.07▲0.137.60
     
    47.8444
    Inter PipelineIPL22.99▼-0.421.36
     
    27.9232
    Keyera KEY35.08▼-1.931.20
     
    39.4451
    Gibson EnergyGEI19.15▲0.115.68
     
    20.1791
    LARGE CAP E&P
    Cdn Natural ResCNQ41.17▼-0.736.88
     
    49.0831
    Cenovus EnergyCVE11.40▼-1.39.03
     
    14.8425
    EncanaECA15.52▼-2.312.37
     
    18.5437
    PrairieSkyPSK23.05▼-3.122.84
     
    35.9013
    TourmalineTOU21.14▼-0.617.78
     
    27.2637
    SERVICES
    ShawcorSCL25.18▼-0.523.60
     
    30.1030
    Mullen Group MTL14.99▲0.714.10
     
    17.6238
    CES Energy SolutionsCEU4.36▲0.94.14
     
    7.348
    Pason SystemsPSI19.88▼-1.816.05
     
    22.1065
    EnerflexEFX15.70▲0.313.55
     
    19.0859
    REFINING & MARKETING
    Parkland FuelPKI42.35▼-1.523.41
     
    43.0897
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • ONEOK (OKE +2.4%)
  • Range Resources (RRC +2.1%)
  • Anadarko Petroleum (APC +1.6%)
  • Noble Energy (NBL +1.2%)
  • Hess Corp (HES +1.2%)
  • 12-MO HIGHS
  • ConocoPhillips (COP +1%)
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • Devon Energy (DVN -2.2%)
  • HollyFrontier (HFC -2.1%)
  • Cabot Oil & Gas (COG -1.6%)
  • Valero Energy (VLO -1.4%)
  • Transocean (RIG -1.4%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM83.41▲0.672.16
     
    89.3074
    ChevronCVX117.51▲0.1108.02
     
    133.8840↑
    MIDSTREAM
    Kinder MorganKMI18.17▲0.614.69
     
    19.8574
    Williams CoWMB28.24▲0.524.00
     
    33.6743
    ONEOKOKE67.97▲2.449.65
     
    71.9979↑
    LARGE CAP E&P
    ConocoPhillipsCOP74.24▲1.045.78
     
    74.9096↑
    EOG ResourcesEOG117.54▼-0.291.86
     
    131.6063
    Occidental PetroleumOXY77.60▲0.061.09
     
    87.6773
    Anadarko PetroleumAPC63.97▲1.643.26
     
    76.7051
    Pioneer Natural ResPXD171.11▲0.4135.31
     
    213.4030
    SERVICES
    SchlumbergerSLB60.97▼-0.459.25
     
    80.3517
    HalliburtonHAL38.71▲0.235.75
     
    57.868
    Baker HughesBHGE31.61▲0.125.53
     
    38.1036
    TechnipFMCFTI29.90▼-0.824.53
     
    35.0041
    National-Oilwell VarcoNOV44.11▼-0.431.47
     
    49.0874
    REFINERS
    Phillips 66PSX112.81▼-0.786.29
     
    123.9767
    Valero EnergyVLO115.46▼-1.469.98
     
    126.9885
    Marathon PetroleumMPC83.82▼-0.652.26
     
    85.3488
    AndeavorANDV155.59▼-0.489.58
     
    157.6599
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A64.78▲0.557.28
     
    73.8646
    TotalTOT62.38▼-0.452.95
     
    65.6961
    BPBP43.24▼-0.136.15
     
    47.8361
    EniE37.64▲1.231.58
     
    40.1559
    EquinorEQNR26.41▼-0.219.43
     
    28.0678

    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 sector posts rare gain as OPEC promises to keep a lid on production

    TSX energy sector posts rare gain as OPEC promises to keep a lid on production

    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

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