Today’s energy, equity and currency market action:
- Oil prices rise for a third day in a row.
- WTI adds 0.4% for the day, and 2.6% for the week.
- Brent and Cdn Light add 2% for the week …
… while WCS, SCO and C5+ add about 3.5%. - Henry Hub soars over 9%, and returns to US$2.50.
- Loonie moves up over 1% for the week …
… while US dollar retreats 0.5%. - TSX/SPX energy stocks post second week of gains.
Today’s notable oil supply news:
- US drillers take four oil rigs offline this week …
… while Canada sheds three. - OPEC output rises to 29.9 Mbbl/day in August.
- Venezuelan output drops another 700 kbbl/day.
- Iraqi output hits record 4.9 Mbbl/day.
Today’s other notable energy news:
- Inter Pipeline‘s mystery buyer finally revealed.
- ExxonMobil confirms talks to sell Norwegian assets …
… but denies rumours of a done deal. - Trader Vitol sees little change in oil prices next year.