Canadian energy sector resumes downtrend as refinery maintenance season begins in the Midwest

Canadian energy sector resumes downtrend as refinery maintenance season begins in the Midwest

Summary of today's energy market action:
  • Oil prices dipped today after President Trump tweeted for OPEC to "get prices down now."
  • The Canadian heavy discount widened again today as various Midwest refineries, the largest buyers of Canadian crude, begin maintenance shutdowns.
  • Gasoline prices ticked higher by 0.4% while Henry Hub natural gas shot up over 2%, once again approaching the US$3/MMBtu mark.
  • Energy was the worst performing sector on the TSX, falling 1% for the day. Declines were broadly based across all subsectors.
  • The US energy basket was roughly unchanged for the day, with heavy losses among E&Ps offsetting gains in refining stocks.
  • Canadian Natural Resources (CNQ.TO -1.7%) and ConocoPhillips (COP -0.2%) were downgraded at RBC. PrairieSky Royalty (PSK -1.5%) hit another 52-wk low on the TSX.
  • Most European ADRs gained ground today as the US dollar declined 0.7%.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$78.70▼0.953.78
 
79.80
WTI$70.80▼0.447.48
 
74.15
CDN LT$52.80▼0.644.88
 
69.32
C5+$64.75▼3.049.18
 
71.40
WCS$37.05▼5.330.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ SEP 20   █ SEP 13   █ SEP 6   █ AUG 30   (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
  • Secure Energy Services (SES +1.2%)
  • Imperial Oil (IMO +1.1%)
  • Parkland Fuel (PKI +1%)
  • Pason Systems (PSI +0.8%)
  • Tourmaline (TOU +0.7%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Crew Energy (CR -5.3%)
  • MEG Energy (MEG -3.9%)
  • Birchcliff Energy (BIR -3.6%)
  • Trican Well (TCW -3.2%)
  • Advantage Oil & Gas (AAV -3%)
  • 12-MO LOWS
  • PrairieSky (PSK -1.5%)
  • Altagas (ALA -2.8%)
  • Freehold Royalties (FRU -2.4%)
  • Trican Well (TCW -3.2%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • Altagas (ALA -2.8%)
  • Vermilion Energy (VET -0.6%)
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU49.98▼-1.240.49
     
    55.4773
    Imperial OilIMO39.77▲1.133.43
     
    44.9170
    Husky EnergyHSE21.22▼-2.814.74
     
    22.4988
    MIDSTREAM
    EnbridgeENB44.41▼-0.737.36
     
    52.5969
    TransCanadaTRP53.75▼-1.150.28
     
    65.1825
    Pembina PipelinePPL43.23▼-0.337.60
     
    47.8448
    Inter PipelineIPL23.030.021.36
     
    27.9239
    Keyera KEY34.80▼-1.131.20
     
    39.4437
    Gibson EnergyGEI19.74▼-0.215.68
     
    20.1792
    LARGE CAP E&P
    Cdn Natural ResCNQ41.77▼-1.736.88
     
    49.0835
    Cenovus EnergyCVE11.89▼-0.49.03
     
    14.8448
    EncanaECA16.310.012.37
     
    18.5459
    PrairieSkyPSK22.85▼-1.522.80
     
    35.908
    TourmalineTOU21.05▲0.717.78
     
    27.2623↓
    SERVICES
    ShawcorSCL24.88▼-0.923.60
     
    30.1022
    Mullen Group MTL14.99▼-0.614.10
     
    17.6231
    CES Energy SolutionsCEU4.51▲0.54.14
     
    7.348
    Pason SystemsPSI19.80▲0.816.05
     
    22.1054
    EnerflexEFX15.22▼-1.413.55
     
    19.0824
    REFINING & MARKETING
    Parkland FuelPKI42.34▲1.023.41
     
    43.0897
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • Range Resources (RRC +3.7%)
  • Cabot Oil & Gas (COG +2.9%)
  • Chesapeake (CHK +2.7%)
  • Transocean (RIG +2.2%)
  • EQT Corp (EQT +1.9%)
  • 12-MO HIGHS
  • ConocoPhillips (COP -0.2%)
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • National-Oilwell Varco (NOV -3.5%)
  • Cimarex Energy (XEC -2.6%)
  • Apache (APA -2.4%)
  • Noble Energy (NBL -1.7%)
  • Newfield Exploration (NFX -1.6%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM84.82▲0.372.16
     
    89.3074
    ChevronCVX119.42▼-0.1108.02
     
    133.8837
    MIDSTREAM
    Kinder MorganKMI18.04▼-1.214.69
     
    19.8566
    Williams CoWMB28.25▲0.224.00
     
    33.6734
    ONEOKOKE68.61▼-1.349.65
     
    71.9974
    LARGE CAP E&P
    ConocoPhillipsCOP75.36▼-0.247.80
     
    76.1592
    EOG ResourcesEOG119.21▼-0.892.82
     
    131.6051
    Occidental PetroleumOXY79.23▼-0.262.00
     
    87.6771
    Anadarko PetroleumAPC63.86▼-1.443.97
     
    76.7029
    Pioneer Natural ResPXD171.39▼-1.5137.50
     
    213.4015
    SERVICES
    SchlumbergerSLB61.57▲0.659.25
     
    80.3511
    HalliburtonHAL40.39▲0.835.75
     
    57.868
    Baker HughesBHGE32.46▼-1.325.53
     
    38.1038
    TechnipFMCFTI31.20▲0.824.53
     
    35.0047
    National-Oilwell VarcoNOV42.90▼-3.531.47
     
    49.0844
    REFINERS
    Phillips 66PSX110.33▲0.988.77
     
    123.9746
    Valero EnergyVLO110.48▲0.772.51
     
    126.9855↓
    Marathon PetroleumMPC81.93▲1.754.03
     
    85.3470
    AndeavorANDV152.56▲1.589.58
     
    157.6598
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A66.82▲0.958.15
     
    73.8650
    TotalTOT64.03▲1.652.95
     
    65.6967
    BPBP44.57▲1.336.15
     
    47.8370
    EniE38.49▲1.331.58
     
    40.1559
    EquinorEQNR26.45▼-0.319.64
     
    28.0663↓

    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.
    Energy stocks end the week on a positive note

    Energy stocks end the week on a positive note

    Drawdowns in crude and gasoline stockpiles help boost oil prices

    Drawdowns in crude and gasoline stockpiles help boost oil prices

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