Energy markets pullback after EIA reports build in crude stockpiles

Energy markets pullback after EIA reports build in crude stockpiles

Summary of today's energy market action:

  • Oil prices dipped slightly today after the EIA reported a 1.9 million barrel build in US crude stockpiles.

  • The discount on Canadian Light widened to US$19.00/bbl, causing prices to fall by over 3%.

  • Energy stocks declined on both sides of the border, falling by 0.5% on the TSX and 1% on the S&P 500. Declines were broadly based across most subsectors.

  • Cenovus Energy (CVE.TO -1.0%) inked a 3-year deal with CN (CNR.TO +2.2%) and CP Rail (CP.TO +0.8%) to transport 100,000 bbl/day of heavy crude from its operations in northern Alberta to the Gulf Coast. The deal was announced after the market closed.

  • CES Energy Solutions (CES.TO -7.3%) and Trinidad Drilling (TDG.TO -0.5%) were downgraded at National Bank.

  • Moody's Investors Service upgraded ConocoPhillips' (COP -1.1%) corporate debt rating, as it moves to reduce its debt levels and keep spending under control.

OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$81.34▼0.655.14
 
81.87
WTI$71.57▼1.049.29
 
74.15
CDN LT$52.57▼3.246.68
 
69.32
C5+$65.27▼0.551.08
 
71.40
WCS$37.82▼1.830.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ SEP 26   █ SEP 19   █ SEP 12   █ SEP 5   (USD/BBL)
MARKET OVERVIEW
MARKETS
CURRENCIES
    TSX SECTORS
52-WK
    SPX SECTORS
52-WK
ENERGY SECTORS
ENERGY SUB-SECTORS

TSX ENERGY SUB-SECTORS

SPX ENERGY SUB-SECTORS
TSX ENERGY STOCKS
TSX BULLISH INDICATORS
TOP 5
  • Birchcliff Energy (BIR +2.8%)
  • Suncor (SU +0.8%)
  • Cdn Natural Res (CNQ +0.7%)
  • Crew Energy (CR +0.6%)
  • Gibson Energy (GEI +0.6%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • CES Energy Solutions (CEU -7.3%)
  • Advantage Oil & Gas (AAV -4.9%)
  • Precision Drilling (PD -4.7%)
  • Secure Energy Services (SES -3.7%)
  • TORC Oil & Gas (TOG -3.5%)
  • 12-MO LOWS
  • CES Energy Solutions (CEU -7.3%)
  • Altagas (ALA +0.1%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU50.58▲0.840.49
     
    55.4774
    Imperial OilIMO41.92▼-0.433.43
     
    44.9189
    Husky EnergyHSE22.45▲0.215.09
     
    22.7693
    MIDSTREAM
    EnbridgeENB42.17▼-1.737.36
     
    52.5931
    TransCanadaTRP52.71▼-1.050.28
     
    65.1821
    Pembina PipelinePPL44.23▼-0.637.60
     
    47.8476
    Inter PipelineIPL22.69▼-1.221.36
     
    27.9229
    Keyera KEY34.72▼-0.531.20
     
    39.3145
    Gibson EnergyGEI20.15▲0.615.68
     
    20.7592
    LARGE CAP E&P
    Cdn Natural ResCNQ42.88▲0.736.88
     
    49.0856
    Cenovus EnergyCVE12.01▼-1.09.03
     
    14.8459
    EncanaECA16.97▼-1.212.37
     
    18.5489↑
    PrairieSkyPSK23.02▼-2.022.71
     
    35.9011
    TourmalineTOU20.97▼-2.217.78
     
    27.2621
    SERVICES
    ShawcorSCL24.80▼-3.123.60
     
    30.1023
    Mullen Group MTL15.11▼-0.414.10
     
    17.4534
    CES Energy SolutionsCEU4.18▼-7.34.09
     
    7.343
    Pason SystemsPSI19.93▼-1.716.05
     
    22.1074
    EnerflexEFX15.85▼-2.413.55
     
    18.9765
    REFINING & MARKETING
    Parkland FuelPKI42.95▼-0.723.41
     
    43.9197
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • Baker Hughes (BHGE +1.1%)
  • HollyFrontier (HFC +0.5%)
  • Murphy Oil (MUR +0%)
  • 12-MO HIGHS
  • Marathon Oil (MRO -0.2%)
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • EQT Corp (EQT -5.3%)
  • Range Resources (RRC -4.8%)
  • Chesapeake (CHK -4.8%)
  • Devon Energy (DVN -4.2%)
  • Cabot Oil & Gas (COG -3.4%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM85.78▼-0.872.16
     
    89.3079
    ChevronCVX121.95▼-1.2108.02
     
    133.8858
    MIDSTREAM
    Kinder MorganKMI17.61▼-1.514.69
     
    19.8361
    Williams CoWMB27.10▼-0.624.00
     
    33.6734
    ONEOKOKE68.41▼0.049.65
     
    71.9977
    LARGE CAP E&P
    ConocoPhillipsCOP77.28▼-1.148.70
     
    78.6195
    EOG ResourcesEOG125.31▼-0.394.87
     
    131.6083
    Occidental PetroleumOXY81.01▼-0.462.47
     
    87.6783
    Anadarko PetroleumAPC66.62▼-0.346.75
     
    76.7065
    Pioneer Natural ResPXD174.00▼-1.9140.31
     
    213.4035
    SERVICES
    SchlumbergerSLB60.88▼-2.659.25
     
    80.3517
    HalliburtonHAL41.08▼-0.735.75
     
    57.8617
    Baker HughesBHGE33.82▲1.125.53
     
    37.7675↑
    TechnipFMCFTI32.22▼-1.024.53
     
    35.0068
    National-Oilwell VarcoNOV42.98▼-1.131.47
     
    49.0858
    REFINERS
    Phillips 66PSX113.89▼-0.989.14
     
    123.9770
    Valero EnergyVLO116.52▼-0.274.41
     
    126.9884
    Marathon PetroleumMPC84.53▼-0.654.61
     
    88.4581
    AndeavorANDV157.10▼-0.189.58
     
    163.1999
    NYSE ADRs
    ADRs BULLISH INDICATORS
    12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • ADRs BEARISH INDICATORS
    12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A68.90▼-1.059.52
     
    73.8670
    TotalTOT64.76▼-0.652.95
     
    65.6976
    BPBP46.26▼-0.136.15
     
    47.8383
    EniE38.96▼-0.331.58
     
    40.1578↑
    EquinorEQNR28.28▼-1.519.71
     
    28.9391
    ANALYST RATINGS

    UPGRADES

    • Range Resources (RRC): Upgraded to Hold at RBC.

    DOWNGRADES

    • Cabot Oil & Gas (COG): Downgraded from Overweight to Equal Weight at Morgan Stanley.

    • CES Energy Solutions (CEU.TO): Downgraded from Outperform to Sector Perform at National Bank.

    • Kosmos Energy (KOS): Downgraded from Strong Buy to Outperform at Raymond James.

    • Nextdecade (NEXT): Downgraded from Outperform to Market Perform at Cowen.

    • Tellurian (TELL): Downgraded from Outperform to Market Perform at Cowen.

    • Trinidad Drilling (TDG.TO): Downgraded from Outperform to Sector Perform at National Bank.


    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.
    WCS sinks another 1% as Cdn heavy discount widens to almost US$35 a barrel

    WCS sinks another 1% as Cdn heavy discount widens to almost US$35 a barrel

    Canadian energy stocks give back some of yesterday’s gains despite higher oil prices

    Canadian energy stocks give back some of yesterday’s gains despite higher oil prices

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