Today’s energy and equity market update:
- Oil prices move lower as production gets restored in GoM.
- Brent, WTI and Canadian Light slide another 3%.
- WCS falls over 4%, as differential moves back above US$15/bbl.
- Gasoline prices also decline for sixth day in a row.
- SPX energy unchanged for the day …
… while TSX energy drops 2% and gives back all gains for 2019.
Today’s notable energy news:
- Alberta’s gas producers ask Premier Kenney for “bold leadership.”
- Hibernia platform offshore NL remains offline after minor spill.
- Seymour Schulich buys another 2M Pengrowth Energy shares …
… boosting stake to 30.4%. - Russia plans to restore output from 10.8M to 11.2M bbl/day by month-end.
