Oil prices rally on Thursday, giving energy stocks a much needed boost

Oil prices rally on Thursday, giving energy stocks a much needed boost

DATA SUBSCRIPTION
Sign-up for our data subscription service and get access to our complete database of oil and gas prices and energy statistics.

Today's energy market action:

  • After several volatile trading days, oil prices staged a nice rally on Thursday, helped by rising stock markets.

  • Brent and WTI both gained almost 2%. WCS also moved up 2.2%.

  • Canadian Light rose just 0.2%, as its discount to WTI widened to almost US$7 a barrel.

  • Henry Hub natural gas prices fell to a 3-year low of US$2.32/MMBtu, after the Energy Information Administration reported a build of 119 billion cubic feet (bcf) for last week. Despite the increase, storage levels still tracking below the 5-year average.

  • Gasoline prices rose 0.9% for the day while heating oil rose 0.5%.

Today's currency and equity market action:

  • Canada's trade deficit narrowed from $2.3 billion in March to $966 million in April, the lowest since October 2018. Exports rose 1.3% to $50.7 billion, while imports declined 1.4% to $51.7 billion. Crude exports rose almost 12% in April to $7.8 billion, due to higher volumes and higher prices. Exports of natural gas plummeted 45.3%, due to lower gas prices.

  • The loonie gained 0.5%, inching closer to the 75 cent threshold. The US dollar index gave back all of yesterday's gains, falling 0.3%, to end the day at exactly 97.

  • US markets rallied again on Thursday, with most indices posting a third day of gains. Both the NYSE and NASDAQ gained about 0.5%. The Dow Jones Industrial Average rose over 180 points (+0.7%), while the S&P 500 large cap also ended the day 0.6% higher. Energy was the best performing sector on the SPX, rising 1.7%.

  • In Toronto, the TSX was little changed for the day. Energy stocks initially dipped lower in the morning, with many larger cap names touching new multi-year lows, but managed to recover in the afternoon and end the day up 0.8%.

OIL PRICES - DAILY % CHANGE
WTI DIFFERENTIALS
STREAM CLOSE %CHG L 52WK H
BRENT$61.67▲1.750.47
 
86.29
WTI$52.59▲1.842.53
 
76.41
CDN LT$44.73▲0.220.83
 
69.32
C5+$46.79▲1.537.04
 
71.40
WCS$39.21▲2.212.59
 
56.30

CRUDE OIL FUTURES CURVES
BRENT
WTI
█ JUN 6   █ MAY 30   █ MAY 23   █ MAY 16   (USD/BBL)
MARKET OVERVIEW
MARKETS
CURRENCIES & YIELDS
TSX SECTORS
TSX SECTORS - 52WK
SPX SECTORS
SPX SECTORS - 52WK
ENERGY SECTORS

TSX ENERGY SUB-SECTORS

SPX ENERGY SUB-SECTORS
TSX ENERGY STOCKS
TSX BULLISH INDICATORS
TOP 5
TORC O&G (TOG +2.8%)
CES Energy (CEU +1.8%)
Encana (ECA +1.8%)
Precision Drilling (PD +1.7%)
Cenovus Energy (CVE +1.6%)
12-MO
HIGHS
None
TSX BEARISH INDICATORS
BOTTOM
5
Ensign Energy Svcs (ESI -4.3%)
Gran Tierra (GTE -4.1%)
PrairieSky (PSK -1.2%)
Inter Pipeline (IPL -1.2%)
Enbridge (ENB -0.9%)
12-MO
LOWS
Husky Energy (HSE -0.1%)
Encana (ECA +1.8%)
ARC Resources (ARX +0.8%)
CES Energy (CEU +1.8%)
Enerplus (ERF 0%)
Gran Tierra (GTE -4.1%)
MEG Energy (MEG -0.2%)
Nuvista Energy (NVA +1.1%)
Peyto Exploration (PEY +0.7%)
TORC O&G (TOG +2.8%)
Seven Generations (VII -0.7%)
COMPANY TICKER CLOSE %CHG L 52WK H CHART
INTEGRATED
Suncor EnergySU40.62▲0.935.53
 
55.47D   W
Imperial OilIMO36.46▲0.433.52
 
44.91D   W
Husky EnergyHSE12.54▼-0.112.27
 
22.99D   W
MIDSTREAM
EnbridgeENB47.33▼-0.939.40
 
51.22D   W
TC EnergyTRP66.12▼-0.147.90
 
66.93D   W
Pembina PipelinePPL48.45▲0.139.15
 
50.65D   W
Inter PipelineIPL20.38▼-1.218.60
 
25.66D   W
Keyera KEY32.24▲0.124.05
 
38.91D   W
Gibson EnergyGEI22.42▲1.216.90
 
23.75D   W
LARGE CAP E&P
Cdn Natural ResCNQ35.12▲1.030.11
 
49.08D   W
Cenovus EnergyCVE10.53▲1.68.74
 
14.84D   W
EncanaECA6.84▲1.86.53
 
18.54D   W
TourmalineTOU16.87▲0.115.84
 
25.79D   W
Vermilion EnergyVET28.41▲1.026.67
 
49.67D   W
SERVICES
Pason SystemsPSI18.93▲0.217.18
 
24.57D   W
EnerflexEFX16.30▼-0.713.55
 
20.38D   W
Mullen Group MTL10.06▲0.99.39
 
16.93D   W
ShawcorSCL17.33▲1.315.11
 
28.89D   W
Secure EnergySES6.90▲1.06.25
 
9.44D   W
REFINING & MARKETING
Parkland FuelPKI42.47▼-0.631.16
 
47.45D   W
S&P 500 ENERGY STOCKS
SPX BULLISH INDICATORS
TOP 5
TechnipFMC (FTI +4.1%)
Occidental Petro (OXY +3.4%)
Baker Hughes (BHGE +3.2%)
Apache (APA +2.9%)
EOG Resources (EOG +2.7%)
12-MO
HIGHS
Kinder Morgan (KMI +1.9%)
SPX BEARISH INDICATORS
BOTTOM
5
HollyFrontier (HFC -1.9%)
Williams Co (WMB -1%)
Noble Energy (NBL -0.1%)
12-MO
LOWS
Occidental Petro (OXY +3.4%)
Ntl-Oilwell Varco (NOV +1%)
Cimarex Energy (XEC +0.5%)
COMPANY TICKER CLOSE %CHG L 52WK H CHART
INTEGRATED
Exxon MobilXOM74.31▲1.864.65
 
87.36D   W
ChevronCVX120.68▲2.6100.22
 
128.55D   W
MIDSTREAM
Kinder MorganKMI20.86▲1.914.62
 
21.12D   W
Williams CoWMB27.55▼-1.020.36
 
32.22D   W
ONEOKOKE65.98▲1.150.26
 
71.99D   W
LARGE CAP E&P
ConocoPhillipsCOP58.20▲2.056.75
 
80.24D   W
EOG ResourcesEOG84.27▲2.781.32
 
133.53D   W
Occidental PetroOXY49.04▲3.447.65
 
87.67D   W
Anadarko PetroAPC70.17▲0.540.40
 
76.70D   W
Pioneer Natural ResPXD144.00▲1.8119.08
 
197.42D   W
SERVICES
SchlumbergerSLB35.05▲0.334.46
 
70.47D   W
HalliburtonHAL21.55▲1.721.14
 
49.49D   W
Baker HughesBHGE22.95▲3.220.09
 
35.68D   W
Ntl-Oilwell VarcoNOV20.77▲1.020.33
 
49.08D   W
TechnipFMCFTI22.34▲4.118.20
 
33.60D   W
REFINERS
Marathon PetroMPC48.10▲0.945.47
 
88.45D   W
Phillips 66PSX84.90▲0.178.44
 
123.97D   W
Valero EnergyVLO74.47▲1.868.81
 
124.43D   W
HollyFrontierHFC40.07▼-1.937.73
 
81.11D   W
NYSE ADRs
COMPANY TICKER CLOSE %CHG L 52WK H CHART
Royal Dutch ShellRDS.A63.62▲1.455.04
 
71.85D   W
TotalTOT53.35▲2.049.70
 
65.69D   W
BPBP41.61▲1.436.28
 
47.57D   W
EniE31.34▲1.429.75
 
39.16D   W
EquinorEQNR19.50▲1.918.91
 
28.93D   W
ANALYST RATINGS

UPGRADES

  • CNOOC (CEO): Upgraded from Neutral to Outperform at Macquarie.

  • Valero Energy (VLO): Upgraded from Neutral to Buy at Goldman Sachs.

DOWNGRADES

  • None.

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
WCS posts first weekly gain in 2 months, while TSX energy posts seventh week of losses

WCS posts first weekly gain in 2 months, while TSX energy posts seventh week of losses

Oil prices sink as U.S. output hits another record high

Oil prices sink as U.S. output hits another record high