Today’s energy and equity market update:
- Iran shoots down US military drone, sending oil prices sharply higher.
- Brent moves up 4%, WTI gains 5%, while Cdn Light gets a 6% boost.
- WCS rises almost 8%, ending the day at US$43/bbl.
- Henry Hub breaches another 3-year low …
… while AECO spot prices heads towards zero. - S&P 500 moves up 1%, ending the day at a record high.
- Energy stocks rise about 2% on both sides of the border.
Today’s other notable energy news:
- Chevron & Phillips 66 make US$15B bid for Canada’s Nova Chemicals.
- Phillips 66 plans yet another deepwater crude export terminal in USGC.
