Canadian heavy discount narrows to US$25 while differential on Canadian Light jumps over US$10

Canadian heavy discount narrows to US$25 while differential on Canadian Light jumps over US$10

Summary of today's energy market action:
  • A mixed day on energy markets as Brent gained 1% while WTI was roughly unchanged despite production outages in the Gulf of Mexico due to Tropical Storm Gord.
  • The discount on Canadian Light oil jumped over US$10 a barrel today while the heavy oil discount narrowed to just over US$25.
  • Energy sector stocks fell again today, declining 1.6% on the TSX and 0.3% on the S&P 500.
  • Declines were broadly based on the TSX across all subsectors. Husky Energy (HSE +1.0%) and Enbridge (ENB +1.0%) bucked the trend and ended the day higher.
  • On the SPX, large-cap integrated names and independent refiners were the best performing subsectors, with Marathon Petroleum (MPC +2.4%) and Andeavor (ANDV +2.1%) hitting record highs.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$78.17▲1.050.86
 
79.80
WTI$69.87▲0.145.96
 
74.15
CDN LT$59.66▼1.343.56
 
69.32
C5+$66.97▼0.147.61
 
71.40
WCS$44.59▲4.230.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ SEP 4   █ AUG 28   █ AUG 21   █ AUG 14   (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 +2.4%)
  • Husky Energy (HSE +1%)
  • Enbridge (ENB +1%)
  • Parkland Fuel (PKI +0.1%)
  • Trican Well (TCW 0%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Kelt Exploration (KEL -8.3%)
  • Advantage Oil & Gas (AAV -7.7%)
  • CES Energy Solutions (CEU -4.6%)
  • Birchcliff Energy (BIR -4.2%)
  • Nuvista Energy (NVA -4.1%)
  • 12-MO LOWS
  • Crescent Point (CPG -2.4%)
  • Freehold Royalties (FRU -3.2%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU52.73▼-1.838.88
     
    55.4790
    Imperial OilIMO40.35▼-0.833.43
     
    44.9164
    Husky EnergyHSE21.79▲1.014.30
     
    22.4394
    MIDSTREAM
    EnbridgeENB44.94▲1.037.36
     
    52.5971
    TransCanadaTRP55.54▼-0.150.28
     
    65.1827
    Pembina PipelinePPL44.01▼-1.137.60
     
    47.8446
    Inter PipelineIPL23.53▼-1.921.36
     
    27.9237↓
    Keyera KEY35.39▼-1.631.20
     
    39.4444↓
    Gibson EnergyGEI19.08▼-1.615.68
     
    20.1789↓
    LARGE CAP E&P
    Cdn Natural ResCNQ43.97▼-1.336.88
     
    49.0855↓
    Cenovus EnergyCVE11.85▼-2.19.03
     
    14.8432↓
    EncanaECA17.16▼-0.711.11
     
    18.5488
    PrairieSkyPSK23.67▼-1.423.13
     
    35.9014
    TourmalineTOU20.48▼-3.717.78
     
    27.2618
    SERVICES
    ShawcorSCL27.32▼-0.423.60
     
    30.1076
    Mullen Group MTL15.85▼-1.414.10
     
    17.6264↓
    CES Energy SolutionsCEU4.57▼-4.64.26
     
    7.3411
    Pason SystemsPSI21.04▼-1.216.05
     
    22.1083↓
    EnerflexEFX15.54▼-1.513.55
     
    19.0844↓
    REFINING & MARKETING
    Parkland FuelPKI40.69▲0.123.41
     
    41.3597
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • Marathon Petroleum (MPC +2.4%)
  • HollyFrontier (HFC +2.2%)
  • Andeavor (ANDV +2.1%)
  • Valero Energy (VLO +2%)
  • Helmerich & Payne (HP +0.4%)
  • 12-MO HIGHS
  • Marathon Petroleum (MPC +2.4%)
  • Andeavor (ANDV +2.1%)
  • 10-YR HIGHS
  • Marathon Petroleum (MPC +2.4%)
  • Andeavor (ANDV +2.1%)
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • Transocean (RIG -6.7%)
  • Cabot Oil & Gas (COG -3.4%)
  • Range Resources (RRC -3.4%)
  • EQT Corp (EQT -3.4%)
  • Chesapeake (CHK -2.7%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • Newfield Exploration (NFX -0.7%)
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM80.29▲0.272.16
     
    89.3057
    ChevronCVX118.87▲0.4107.51
     
    133.8842
    MIDSTREAM
    Kinder MorganKMI17.62▼-0.414.69
     
    19.8556↑
    Williams CoWMB29.20▼-1.324.00
     
    33.6749↓
    ONEOKOKE65.70▼-0.349.65
     
    71.9961
    LARGE CAP E&P
    ConocoPhillipsCOP73.11▼-0.443.48
     
    74.4393
    EOG ResourcesEOG117.68▼-0.584.59
     
    131.6062
    Occidental PetroleumOXY79.27▼-0.859.28
     
    87.6772
    Anadarko PetroleumAPC63.96▼-0.740.41
     
    76.7046
    Pioneer Natural ResPXD171.10▼-2.1127.26
     
    213.4024
    SERVICES
    SchlumbergerSLB61.92▼-1.261.02
     
    80.3517
    HalliburtonHAL39.48▼-0.638.81
     
    57.868
    Baker HughesBHGE32.38▼-1.825.53
     
    38.1045
    TechnipFMCFTI30.22▼-1.324.53
     
    35.0040
    National-Oilwell VarcoNOV46.43▼-1.430.49
     
    49.0888
    REFINERS
    Phillips 66PSX118.96▲0.482.66
     
    123.9787
    Valero EnergyVLO120.24▲2.067.24
     
    126.9894
    Marathon PetroleumMPC84.28▲2.450.52
     
    85.0892
    AndeavorANDV155.92▲2.189.58
     
    157.1099
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A65.26▲0.154.95
     
    73.8646
    TotalTOT62.18▼-0.951.88
     
    65.6960
    BPBP42.72▼-0.434.57
     
    47.8353
    EniE37.44▲0.831.51
     
    40.1563
    EquinorEQNR25.68▼-0.418.84
     
    28.0664

    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 condensate prices tank 6% as discounts to WTI continue to widen

    Canadian Light and condensate prices tank 6% as discounts to WTI continue to widen

    Energy stocks drag markets lower as OPEC output hits a new high for the year

    Energy stocks drag markets lower as OPEC output hits a new high for the year

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