Oil prices and energy stocks end the week on a high note
Today's energy market action:
- Oil prices ended the week on a high note, with most benchmarks posting gains for the day.
- Brent rose 2.6% on Friday, and almost 7% for the week.
- WTI rose 2.2% for the day, and was also up over 5% for the week.
- Differentials on Canadian crude and condensate were roughly unchanged.
- WCS rose 3%, recovering some of yesterday's losses. The Canadian heavy benchmark lost almost 5% this week.
- Gasoline prices rose 4%, while heating oil and Henry Hub both gained about 2%.
Today's currency, treasury and equity market action:
- Bond yields were little changed on Friday, but managed to end the week higher.
- The US dollar was also unchanged, as was the Euro and the yen. The British pound was Friday's big winner in currency markets, gaining 0.7%. The loonie rose 0.4%.
- Except for Asian markets, most other global stock markets ended the week higher.
- In the US, the NYSE rose 1.3%, while the NASDAQ gained 0.6%.
- The Dow Jones Industrial Average shot up over 400 points on Friday, bringing the weekly gain to almost 800 points.
- The S&P 500 rose over 1%, led higher by the more offensive sectors. The SPX energy sector gained 1.6%, and was the day's best performer.
- In Toronto, the TSX rose almost 1%. Energy was also the best performing sector, gaining 3.2% for the day. For the week, the Canadian energy sector rose over 7%, now recovering most of the losses of late-December.
- All US and Canadian energy subsectors ended Friday in the green.
Today's notable energy news:
- Enbridge posted a $1.1 billion profit in the fourth quarter, and $2.5 billion for the full-year 2018. The company brought $7 billion worth of projects online last year, and has another $16 billion planned by 2023. Its massive Mainline network transported a record 2.7 million bbl/day in Q4, while its oil sands pipelines shipped 1.9 million bbl/day, up from 1.4 million bbl/day the previous year.
- Anadarko Petroleum signed another gas supply contract for its proposed Mozambique LNG project, this time with India's Bharat Gas Resources. The company has agreed to supply 1 million t/y of LNG over 15 years. This latest deal brings the total commitments to 8.5 million t/y, with several more deals expected over the near term. A final investment decision on the 12.88 million t/y LNG project is expected in the first half of this year.
- Royal Dutch Shell has agreed to acquire German solar battery maker sonnen. Financial terms of the deal were not disclosed.
|CURRENCIES & YIELDS|
|Suncor Energy||SU||44.88||▲3.8||35.53||55.47||D W|
|Imperial Oil||IMO||36.22||▲2.2||33.43||44.91||D W|
|Husky Energy||HSE||15.62||▲1.4||13.33||22.99||D W|
|Pembina Pipeline||PPL||48.66||▲1.0||37.60||49.05||D W|
|Inter Pipeline||IPL||21.32||▼-1.1||18.60||25.66||D W|
|Gibson Energy||GEI||21.27||▲3.1||15.68||23.32||D W|
|LARGE CAP E&P|
|Cdn Natural Res||CNQ||36.87||▲4.1||30.11||49.08||D W|
|Cenovus Energy||CVE||11.48||▲3.3||8.74||14.84||D W|
|Vermilion Energy||VET||32.58||▲1.0||26.67||49.67||D W|
|Pason Systems||PSI||20.42||▲2.3||16.61||24.57||D W|
|Mullen Group||MTL||11.91||▲0.9||11.26||16.93||D W|
|Secure Energy||SES||8.59||▲3.4||6.25||8.91||D W|
|REFINING & MARKETING|
|Parkland Fuel||PKI||38.39||▲1.5||27.96||47.45||D W|
|Exxon Mobil||XOM||77.71||▲1.9||64.65||87.36||D W|
|Kinder Morgan||KMI||18.80||▼-0.4||14.62||18.98||D W|
|Williams Co||WMB||27.27||▲1.5||20.36||32.22||D W|
|LARGE CAP E&P|
|EOG Resources||EOG||100.25||▲3.4||82.04||133.53||D W|
|Occidental Petro||OXY||67.19||▲0.9||56.83||87.67||D W|
|Anadarko Petro||APC||45.23||▲3.3||40.40||76.70||D W|
|Pioneer Natural Res||PXD||145.35||▲1.6||119.08||213.40||D W|
|Baker Hughes||BHGE||25.83||▲0.7||20.09||37.76||D W|
|Ntl-Oilwell Varco||NOV||29.81||▲2.7||24.27||49.08||D W|
|Marathon Petro||MPC||65.15||▲1.7||54.29||88.45||D W|
|Phillips 66||PSX||95.99||▲1.2||78.44||123.97||D W|
|Valero Energy||VLO||84.40||▲1.0||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
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