Today’s energy market action:
- Oil prices give back all of Monday’s gains, and more.
- Brent, WTI and Cdn benchmarks all slide over 2%.
- Heavy oil discount drops below US$13 a barrel.
- Gasoline prices decline 2%.
- Henry Hub falls 1%, while AECO retreats 0.5%.
- API forecasts 1.4M bbl build in US crude stockpiles.
- TSX/SPX energy stocks slide almost 2%.
Today’s notable energy news:
- Cdn court blocks Alberta’s right to cut fuel supplies to BC.
- US Administration sanctions shippers of Venezuelan oil.
- Tidewater Midstream commences operation of Pipestone Gas Plant.
- Enbridge gets permit for Line 5 underwater steel supports.
- Total doubles annual dividend growth rate to over 5% …
… and lowers breakeven to US$30/bbl.
