Today’s energy market action:
- Oil prices kick off new week with another loss.
- Brent slides to lows of mid-August …
… while WTI breaks below US$54/bbl. - Heavy oil discount narrows to US$11.50 …
… while SCO premium jumps to US$1.44. - Gasoline breaks below US$1.50.
- TSX/SPX energy sectors move lower.
- Cdn midstream stocks continue to shine.
Today’s notable energy news:
- China adds 5% tariff on US crude imports …
… and takes US trade spat to WTO. - Crescent Point sells Uinta Basin and SK assets for $912M.
- Concho Resources sells NM Shelf assets to Spur Energy Partners.
- After 100-yrs of service, Chevron prepares to exit Venezuela.