Oil prices and equity markets post third consecutive day of gains
Today's energy market action:
Geopolitical tensions returned to the front page on Thursday, helping oil prices move higher for the third day in a row. Brent gained 1.2% while WTI rose 1.4%.
Canadian benchmarks also rose about 1.5%, as discounts to WTI were little changed for the day.
Gasoline rose 0.8%, while heating oil gained another 1.8%, also a third day of increases for both commodities.
The US ordered the evacuation of all non-essential staff from its Iraqi embassy in Baghdad, citing threats linked to "Iranian activity" in the region. The Americans also suspended all passenger and cargo flights in and out of Venezuela due to concerns for the safety of passengers, airlines and crews.
Today's treasury, currency and equity market action:
The loonie moved higher this morning on rumours the US may remove tariffs on steel and aluminum imports. All gains fizzled by the afternoon, leaving the Canadian dollar down 0.1% for the day.
The US dollar rose another 0.3% on Thursday, due mostly to weakness in the Euro, pound and Japanese yen. The Australian dollar sank another 0.6%, ending the day below 69 cents.
Most global markets moved higher, including US exchanges, which posted their third day of gains. The NYSE rose 0.7% while the S&P 500 added 0.9%. All US sectors posted gains for the day, including a 0.4% increase in energy stocks.
In Toronto, the TSX also rose 0.8%, including a 0.7% increase in energy stocks. Precious metals were the only notable losers for the day.
Today's other notable energy news:
In a tie vote, Canada’s Senate transport committee voted against Bill C-48, legislation that would ban crude tanker traffic on BC's northern coast. The bill now goes back to the chamber for further debate. If Bill C-48 passes, it will be the world's first and only oil tanker ban.
Australian natural gas producer Santos purchased a 14.3% stake in the P'nyang natural gas field in PNG for total proceeds of US$187 million. Most of that share will come from ExxonMobil, who will retain a 36.86% stake after the deal closes. The field is expected to produce gas for the PNG LNG facility, which has yet to be sanctioned.
Enerplus filed for a mixed shelf offering for up to $2 billion, including preferred shares, common shares and warrants.
|Suncor Energy||SU||43.76||▲1.4||35.53||55.47||D W|
|Imperial Oil||IMO||38.01||▲0.5||33.52||44.91||D W|
|Husky Energy||HSE||13.62||▲0.5||13.10||22.99||D W|
|Pembina Pipeline||PPL||48.95||▲1.8||39.15||50.65||D W|
|Inter Pipeline||IPL||20.93||▲1.2||18.60||25.66||D W|
|Gibson Energy||GEI||23.16||▲2.9||16.64||23.75||D W|
|LARGE CAP E&P|
|Cdn Natural Res||CNQ||37.46||▲0.4||30.11||49.08||D W|
|Cenovus Energy||CVE||11.80||▼-0.5||8.74||14.84||D W|
|Vermilion Energy||VET||31.57||▲0.7||26.67||49.67||D W|
|Pason Systems||PSI||19.75||▲0.1||17.18||24.57||D W|
|Mullen Group||MTL||10.19||▲0.2||9.39||16.93||D W|
|Secure Energy||SES||7.75||▲3.8||6.25||9.44||D W|
|REFINING & MARKETING|
|Parkland Fuel||PKI||40.30||▲1.3||30.01||47.45||D W|
|Exxon Mobil||XOM||76.36||▼0.0||64.65||87.36||D W|
|Kinder Morgan||KMI||20.42||▲1.4||14.62||20.46||D W|
|Williams Co||WMB||27.63||▼-0.3||20.36||32.22||D W|
|LARGE CAP E&P|
|EOG Resources||EOG||95.18||▲0.9||82.04||133.53||D W|
|Occidental Petro||OXY||53.75||▼-0.9||53.12||87.67||D W|
|Anadarko Petro||APC||72.73||▼-0.2||40.40||76.70||D W|
|Pioneer Natural Res||PXD||155.09||▲2.4||119.08||213.40||D W|
|Baker Hughes||BHGE||22.98||▲1.0||20.09||37.41||D W|
|Ntl-Oilwell Varco||NOV||24.75||▲0.2||23.42||49.08||D W|
|Marathon Petro||MPC||52.86||▲3.3||50.19||88.45||D W|
|Phillips 66||PSX||88.30||▲1.2||78.44||123.97||D W|
|Valero Energy||VLO||85.47||▲2.5||68.81||126.98||D W|
UPDATED: DAILY (END-OF-DAY)
• OIL PRICES REFLECT NEAR MONTH CONTRACT FROM THE NYMEX/CME GROUP
• EQUITY PRICES PROVIDED BY NYSE & TMX GROUP
• CHARTPACKS COURTESY STOCKCHARTS.COM (DIVIDEND ADJUSTED)
• 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