Weak Chinese trade data weighs on energy commodities

Weak Chinese trade data weighs on energy commodities

Today's energy market summary:

Today's notable energy news:

  • Surge Energy (SGY.TO -1.4%) cut its 2019 capital budget from $160 million to $135 million, due to "recent extreme volatility" in both WTI and Canadian crude differentials. The company expects to produce an average of 22,000 boe/day this year, up 20% from 2018.
  • Phillips 66 Partners (PSXP -0.7%), Harvest Midstream, and PBF Logistics (PBFX -0.3%) have agreed to jointly develop the ACE Pipeline System, transporting crude from St. James hub in Louisiana, to refineries near New Orleans. The pipeline will have an initial capacity of 400,000 bbl/day and is expected to be in service by the end of 2020.
  • A US appeals court has rejected a bid by Dominion Energy (D -2.7%) to continue construction on its 600-mile Atlantic Coast Pipeline, which would transport 1.5 Bcf/day of gas from the Utica and Marcellus fields into mid-Atlantic states. Construction was halted in December when the courts pulled a US Fish and Wildlife permit. Dominion says it remains confident the project will eventually be completed. Atlantic Coast is jointly held with Duke Energy (DUK -1.1%) and Southern Company Gas (SO -1.0%).
  • Exxon Mobil (XOM -0.1%) shut in the crude distillation unit (CDU) at its 560,500 bbl/day Baytown refinery in Texas, as part of a planned maintenance shutdown. The 280,000 bbl/day CDU until is expected to be offline for as long as two months. Exxon says this turnaround is "the largest maintenance and improvement program in the site’s history."
  • Dutch pension fund PGGM and Royal Dutch Shell (RDS.A -0.2%) are considering a joint bid for Eneco, a renewable energy firm owned by a consortium of 53 municipalities. Eneco is worth an estimated US$3 billion, and will be sold via auction later this year.
  • A Brazilian judge has overturned an injunction that prevented PetroBras (PBR +0.3%) from selling its assets. The oil major has been cleared to continue it US$27 billion divestiture program until the end of February, when the country's Supreme Court will hear its case.
  • BP (BP +0.5%) and Italian oil major Eni (E -0.2%) announced an exploration and production sharing agreement with the government of Oman to jointly develop Block 77, located just east of the Khazzan gas project.
OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$58.99▼2.550.47
 
86.29
WTI$50.51▼2.142.53
 
76.41
CDN LT$47.39▼2.320.83
 
69.32
C5+$48.45▼2.237.04
 
71.40
WCS$40.95▼1.912.59
 
56.21

CRUDE OIL FUTURES CURVES
BRENT
WTI
█ JAN 14   █ JAN 7   █ DEC 31   █ DEC 24   (USD/BBL)
MARKET OVERVIEW
MARKETS
CURRENCIES & YIELDS
    TSX SECTORS
52-WK
    SPX SECTORS
52-WK
ENERGY SECTORS

TSX ENERGY SUB-SECTORS

SPX ENERGY SUB-SECTORS
TSX ENERGY STOCKS
TSX BULLISH INDICATORS
TOP 5
  • Parkland Fuel (PKI +2.3%)
  • Freehold Royalties (FRU +1.6%)
  • Ensign Energy Svcs (ESI +1.5%)
  • Imperial Oil (IMO +1.5%)
  • Encana (ECA +1.2%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • TSX BEARISH INDICATORS
    BOTTOM
    5
  • Precision Drilling (PD -5.1%)
  • Birchcliff Energy (BIR -4.3%)
  • Kelt Exploration (KEL -2.8%)
  • CES Energy (CEU -2.8%)
  • Paramount Res (POU -2.3%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H CHART
    INTEGRATED
    Suncor EnergySU40.56▲0.535.53
     
    55.47D
    Imperial OilIMO35.82▲1.533.43
     
    44.91D
    Husky EnergyHSE14.81▼-0.913.33
     
    22.99D
    MIDSTREAM
    EnbridgeENB46.32▲0.937.36
     
    49.99D
    TransCanadaTRP53.94▲0.247.90
     
    60.25D
    Pembina PipelinePPL43.54▼-0.537.60
     
    47.84D
    Inter PipelineIPL20.79▼-0.518.60
     
    25.98D
    Keyera KEY28.11▼-0.424.05
     
    38.91D
    Gibson EnergyGEI20.07▲0.815.68
     
    23.32D
    LARGE CAP E&P
    Cdn Natural ResCNQ36.28▲0.630.11
     
    49.08D
    Cenovus EnergyCVE10.64▼-1.08.74
     
    14.84D
    EncanaECA9.07▲1.26.90
     
    18.54D
    TourmalineTOU18.23▲0.315.84
     
    26.19D
    Vermilion EnergyVET31.77▼-0.526.67
     
    50.46D
    SERVICES
    Pason SystemsPSI20.10▲1.116.05
     
    24.57D
    EnerflexEFX17.48▲0.613.55
     
    18.72D
    Mullen Group MTL12.42▼-0.111.39
     
    16.93D
    ShawcorSCL18.57▼-0.715.11
     
    29.50D
    Secure EnergySES7.93▼-0.36.25
     
    9.82D
    REFINING & MARKETING
    Parkland FuelPKI35.91▲2.327.28
     
    47.45D
    S&P 500 ENERGY STOCKS
    SPX BULLISH INDICATORS
    TOP 5
  • EQT Corp (EQT +2.1%)
  • Cimarex Energy (XEC +2%)
  • Cabot O&G (COG +2%)
  • EOG Resources (EOG +1.8%)
  • Apache (APA +1.5%)
  • 12-MO HIGHS
  • None
  • 10-YR HIGHS
  • None
  • GOLDEN CROSSES
  • None
  • SPX BEARISH INDICATORS
    BOTTOM
    5
  • Marathon Oil (MRO -1.6%)
  • ConocoPhillips (COP -1.2%)
  • Halliburton (HAL -1%)
  • Anadarko Petro (APC -1%)
  • Schlumberger (SLB -1%)
  • 12-MO LOWS
  • None
  • 10-YR LOWS
  • None
  • DEATH CROSSES
  • None
  • COMPANY TICKER CLOSE %CHG L 52WK H CHART
    INTEGRATED
    Exxon MobilXOM71.63▼-0.164.65
     
    89.30D
    ChevronCVX111.72▼-0.7100.22
     
    133.88D
    MIDSTREAM
    Kinder MorganKMI17.23▲0.914.62
     
    19.83D
    Williams CoWMB25.31▲1.120.36
     
    33.67D
    ONEOKOKE59.37▼-0.750.26
     
    71.99D
    LARGE CAP E&P
    ConocoPhillipsCOP65.61▼-1.250.18
     
    80.24D
    EOG ResourcesEOG98.51▲1.882.04
     
    133.53D
    Occidental PetroOXY65.58▼-1.056.83
     
    87.67D
    Anadarko PetroAPC47.15▼-1.040.40
     
    76.70D
    Pioneer Natural ResPXD142.89▲0.5119.08
     
    213.40D
    SERVICES
    SchlumbergerSLB41.32▼-1.034.99
     
    80.35D
    HalliburtonHAL30.37▼-1.024.70
     
    57.86D
    Baker HughesBHGE23.24▲0.720.09
     
    37.76D
    Ntl-Oilwell VarcoNOV29.25▲0.524.27
     
    49.08D
    TechnipFMCFTI22.590.018.20
     
    35.00D
    REFINERS
    Marathon PetroMPC64.88▲0.154.29
     
    88.45D
    Phillips 66PSX92.83▲0.278.44
     
    123.97D
    Valero EnergyVLO78.95▲0.668.81
     
    126.98D
    HollyFrontierHFC53.09▼-0.842.42
     
    83.28D
    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 CHART
    Royal Dutch ShellRDS.A60.41▼-0.155.04
     
    73.86D
    TotalTOT54.30▲0.849.70
     
    65.69D
    BPBP40.42▲0.536.15
     
    47.83D
    EniE32.62▼-0.229.75
     
    40.15D
    EquinorEQNR22.28▼-1.419.95
     
    28.93D
    ANALYST RATINGS

    UPGRADES

    • None

    DOWNGRADES

    • Chevron (CVX): Downgraded from Buy to Hold at HSBC.

    • SemGroup (SEMG): Downgraded from Buy to Hold at SunTrust Banks.

    LATEST ENERGY NEWS

    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 (DIVIDEND ADJUSTED)

    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
    Oil prices recoup yesterday's losses as China promises stimulus package

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