Weak Chinese data renews hopes for more global stimulus

Editor's note: US exchanges, including the CME Group, were closed for MLK Day. Oil prices reflect Monday’s implied prices, based on electronic trading. Discounts on Canadian oil represent Friday closing price. No data provided for NYSE listings.

Today's equity market action:

• US markets and commodity exchanges were closed for MLK Day, making for very light trading volumes and little movement on the TSX. Markets were also quiet in Europe overnight.
• Chinese indices rose slightly on expectations of more government intervention in light of weak economic growth figures released over the weekend. Full year GDP growth slowed to 6.6% in 2018, down from 6.8% in 2017, the slowest expansion rate in almost three decades. The IMF also downgraded its 2019 global growth forecast to 3.5%.
• The TSX energy sector was roughly unchanged, as losses among energy service providers and larger cap producers offset gains in the other subsectors.

Today's notable energy news:

• The National Energy Board has approved TransCanada to begin winter clearing work on the North Spread of its Keystone XL pipeline, which runs from Hardisty to Consort, AB. South of the border, the projects still awaits the results of yet another environmental review from the US State Department, and the results of another court challenge in the state of Nebraska.
• Enbridge's Texas Eastern natural gas pipeline ruptured and exploded in Noble County, Ohio, on Monday. The blast damaged two homes and injured two people. The company has since shut in and isolated the damaged section of pipe. Texas Eastern transports gas from the US Gulf Coast to markets in the mid-Atlantic and Northeast. The line has been in service since the early 1950s.

QUICK LINKS:

• OIL PRICES • CRUDE FUTURES CURVES • MARKET OVERVIEW • ENERGY SECTORS • ENERGY SUB-SECTORS • TSX ENERGY STOCKS • UPGRADES & DOWNGRADES • LATEST NEWS

OIL PRICES - DAILY % CHANGE

WTI DIFFERENTIALS

STREAM	CLOSE	%CHG	L	52WK	H
BRENT	$62.78	▲0.1	50.47		86.29
WTI	$53.90	▲0.2	42.53		76.41
CDN LT	$48.25	▲0.2	20.83		69.32
C5+	$50.15	▲0.2	37.04		71.40
WCS	$42.70	▲0.2	12.59		56.21

CRUDE OIL FUTURES CURVES
BRENT	WTI
█ JAN 21   █ JAN 14   █ JAN 7   █ DEC 31   (USD/BBL)

MARKET OVERVIEW

MARKETS

CURRENCIES & YIELDS

TSX SECTORS

52-WK

ENERGY SECTORS

TSX ENERGY SUB-SECTORS

TSX ENERGY STOCKS

TSX BULLISH INDICATORS
TOP 5	Paramount Res (POU +3.5%) Nuvista Energy (NVA +2.2%) Advantage O&G (AAV +2.2%) Freehold Royalties (FRU +2%) Suncor Energy (SU +1.9%)
12-MO HIGHS	None
10-YR HIGHS	None
GOLDEN CROSSES	None

TSX BEARISH INDICATORS
BOTTOM 5	Crescent Point (CPG -4.9%) Baytex Energy (BTE -3.1%) Enerplus (ERF -2.6%) CES Energy (CEU -2%) Parex Resources (PXT -1.8%)
12-MO LOWS	None
10-YR LOWS	None
DEATH CROSSES	None

COMPANY	TICKER	CLOSE	%CHG	L	52WK	H	CHART
INTEGRATED
Suncor Energy	SU	43.28	▲1.9	35.53		55.47	D   W
Imperial Oil	IMO	36.71	▼-1.3	33.43		44.91	D   W
Husky Energy	HSE	16.70	0.0	13.33		22.99	D   W
MIDSTREAM
Enbridge	ENB	48.45	▲1.1	37.36		49.46	D   W
TransCanada	TRP	55.30	▲0.0	47.90		60.22	D   W
Pembina Pipeline	PPL	45.20	▼-0.3	37.60		47.84	D   W
Inter Pipeline	IPL	21.40	▼-0.8	18.60		25.88	D   W
Keyera	KEY	28.38	▲0.6	24.05		38.91	D   W
Gibson Energy	GEI	20.01	▲0.1	15.68		23.32	D   W
LARGE CAP E&P
Cdn Natural Res	CNQ	36.48	▼-0.1	30.11		49.08	D   W
Cenovus Energy	CVE	10.62	▼-1.6	8.74		14.84	D   W
Encana	ECA	9.31	▼-0.3	6.90		18.54	D   W
Tourmaline	TOU	19.22	▲0.2	15.84		26.19	D   W
Vermilion Energy	VET	33.03	▲1.1	26.67		50.46	D   W
SERVICES
Pason Systems	PSI	21.07	▼-0.5	16.05		24.57	D   W
Enerflex	EFX	17.34	▼-0.3	13.55		18.72	D   W
Mullen Group	MTL	12.64	▼-1.4	11.39		16.93	D   W
Shawcor	SCL	18.57	▼-1.8	15.11		29.50	D   W
Secure Energy	SES	8.10	▲0.5	6.25		9.82	D   W
REFINING & MARKETING
Parkland Fuel	PKI	37.26	▲0.6	27.36		47.45	D   W

ANALYST RATINGS

UPGRADES

• None

DOWNGRADES

• None

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

^✽ 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.