Oil & Gas Companies Daily Post Sept 7

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.