Today’s energy and equity market action:
- Oil prices finally move higher, halting several days of declines.
- WCS rises almost 6%, as discount shrinks below US$12.
- Yield curve ends the day in the negative …
… once again, spooking equity markets. - SPX energy stocks give back yesterday’s gains.
- TSX energy stocks sink to new multi-year lows.
Today’s notable energy news:
- API predicts whopping drawdown in US crude stockpiles.
- Narrower heavy oil discount boosts Alberta’s revenues …
… offsetting losses from scrapped carbon tax. - CNRL adds voice of opposition to Enbridge‘s new Mainline scheme.
- BP exits Alaska, after 60-years of service.
