Energy stocks continue to drag equity markets lower

Energy stocks continue to drag equity markets lower

Summary of today's energy market action:
  • Oil prices continued their slow downward slide today, despite a significant drawdown in US crude oil stockpiles.
  • The discount on Canadian Light continues to widen, rising to US$14.55 a barrel, the highest since January 2014.
  • Gasoline prices declined for the fourth day in a row, after the EIA reported a build in both gasoline and distillate inventories last week.
  • Energy stocks were once again the worst performing sector on both sides of the border, falling by almost 2%. All sub-sectors ended the day lower, with E&Ps posting the biggest losses.
  • On the TSX, Crescent Point Energy (CPG -7.8%) sank to new lows as the fallout continues from yesterday's strategic update.
  • On the S&P 500, Chevron (CVX -3.1%) and ConocoPhillips (COP -3.4%) suffered heavy losses after being downgraded at BofA Merrill Lynch. Oilfield service providers Halliburton (HAL -0.7%) and Schlumberger (SLB -1.3%) both hit new 52-week lows.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$76.50▼1.050.86
 
79.80
WTI$67.77▼1.445.96
 
74.15
CDN LT$53.22▼4.743.56
 
69.32
C5+$63.21▲0.647.61
 
71.40
WCS$42.08▼3.830.41
 
56.21
CRUDE OIL FUTURES CURVES
BRENT
WTI
█ SEP 6   █ AUG 30   █ AUG 23   █ AUG 16   (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
  • Mullen Group (MTL +0.8%)
  • Whitecap Resources (WCP +0.5%)
  • Vermilion Energy (VET +0.4%)
  • Parkland Fuel (PKI +0.3%)
  • Secure Energy Services (SES +0.3%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Crescent Point (CPG -7.8%)
  • Advantage Oil & Gas (AAV -5.5%)
  • MEG Energy (MEG -5.2%)
  • Enerplus (ERF -4.2%)
  • Shawcor (SCL -4%)
  • 12-MO LOWS
  • PrairieSky (PSK +0.1%)
  • Advantage Oil & Gas (AAV -5.5%)
  • Crescent Point (CPG -7.8%)
  • 10-YR LOWS
  • Crescent Point (CPG -7.8%)
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    SuncorSU51.66▼-2.039.22
     
    55.4787
    Imperial OilIMO39.99▼-0.933.43
     
    44.9167
    Husky EnergyHSE21.70▼-0.914.30
     
    22.4395
    MIDSTREAM
    EnbridgeENB44.99▼-1.537.36
     
    52.5975
    TransCanadaTRP55.87▼-0.850.28
     
    65.1839
    Pembina PipelinePPL43.66▼-1.237.60
     
    47.8447
    Inter PipelineIPL23.19▼-1.021.36
     
    27.9236
    Keyera KEY34.59▼-1.831.20
     
    39.4437
    Gibson EnergyGEI18.60▼-2.115.68
     
    20.1787
    LARGE CAP E&P
    Cdn Natural ResCNQ43.10▼-1.736.88
     
    49.0851
    Cenovus EnergyCVE11.61▼-1.99.03
     
    14.8435
    EncanaECA16.44▼-3.611.11
     
    18.5475
    PrairieSkyPSK23.50▲0.123.03
     
    35.9015
    TourmalineTOU19.57▼-0.917.78
     
    27.2612
    SERVICES
    ShawcorSCL25.39▼-4.023.60
     
    30.1029
    Mullen Group MTL15.63▲0.814.10
     
    17.6259
    CES Energy SolutionsCEU4.46▼-1.84.26
     
    7.3410
    Pason SystemsPSI20.61▼-0.816.05
     
    22.1078↓
    EnerflexEFX15.49▲0.113.55
     
    19.0843
    REFINING & MARKETING
    Parkland FuelPKI41.04▲0.323.41
     
    41.3597
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • None
  • 12-MO HIGHS
  • Marathon Petroleum (MPC -1.4%)
  • Andeavor (ANDV -1.1%)
  • 10-YR HIGHS
  • Marathon Petroleum (MPC -1.4%)
  • Andeavor (ANDV -1.1%)
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • Chesapeake (CHK -5.8%)
  • Range Resources (RRC -4.4%)
  • Marathon Oil (MRO -4%)
  • EQT Corp (EQT -3.8%)
  • Hess Corp (HES -3.7%)
  • 12-MO LOWS
  • Schlumberger (SLB -1.3%)
  • Halliburton (HAL -0.7%)
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    INTEGRATED
    Exxon MobilXOM80.46▼-1.172.16
     
    89.3059
    ChevronCVX115.23▼-3.1108.02
     
    133.8830
    MIDSTREAM
    Kinder MorganKMI17.67▼-0.714.69
     
    19.8558
    Williams CoWMB28.50▼-2.224.00
     
    33.6741
    ONEOKOKE66.01▼-0.149.65
     
    71.9965
    LARGE CAP E&P
    ConocoPhillipsCOP70.54▼-3.444.10
     
    74.4387
    EOG ResourcesEOG115.50▼-2.086.08
     
    131.6050
    Occidental PetroleumOXY77.57▼-2.059.78
     
    87.6766
    Anadarko PetroleumAPC63.68▼-1.140.54
     
    76.7049
    Pioneer Natural ResPXD164.63▼-2.7127.26
     
    213.4015
    SERVICES
    SchlumbergerSLB60.21▼-1.359.80
     
    80.3512
    HalliburtonHAL36.86▼-0.736.78
     
    57.862
    Baker HughesBHGE30.99▼-2.225.53
     
    38.1025↓
    TechnipFMCFTI28.51▼-3.024.53
     
    35.0019
    National-Oilwell VarcoNOV45.06▼-2.631.42
     
    49.0876
    REFINERS
    Phillips 66PSX116.70▼-1.183.11
     
    123.9779
    Valero EnergyVLO116.07▼-0.767.71
     
    126.9887
    Marathon PetroleumMPC82.80▼-1.451.49
     
    85.3488
    AndeavorANDV153.80▼-1.189.58
     
    157.6599
    NYSE ADRs
    COMPANY TICKER CLOSE %CHG L 52WK H RANK 
    Royal Dutch ShellRDS.A63.68▼-2.055.45
     
    73.8637
    TotalTOT60.55▼-1.352.25
     
    65.6948↓
    BPBP42.21▼-1.334.78
     
    47.8348
    EniE36.76▼-1.631.58
     
    40.1555
    EquinorEQNR25.00▼-1.018.88
     
    28.0650

    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 crude prices sink lower as discounts to WTI continue to widen

    Canadian crude prices sink lower as discounts to WTI continue to widen

    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

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