Today’s energy and equity market update:
- Brent dips 0.3%, while WTI rises 0.5%.
- Canadian light and heavy benchmarks also move higher.
- Gasoline falls 1.7%, while heating oil declines 1%.
- Henry Hub tops US$2.70 for the first time since mid-April.
- SPX energy sector little moved for the day.
- Canadian markets closed for Victoria Day.
Today’s notable energy news:
- AltaGas poised to open Ridley propane export terminal in BC.
- OPEC+ sticks to quotas, but warns output may need to rise in Q3.
- ExxonMobil evacuates foreign staff out of Iraq’s West Qurna.
- Plains All-American denied waiver for Greek steel imports, once again.
- CNPC enters retail fuel business in Myanmar.
- Dilution may be the solution for tainted Russian crude.