Today’s energy and equity market action:
- Brent, WTI, and Cdn Light all sink about 2%.
- WCS gives back 1.6%, as heavy oil discount narrows.
- Gasoline and heating oil falls 2%, while Henry Hub slides over 4%.
- Energy stocks drag on both sides of the border …
… falling 1.1% on SPX and 1.6% on TSX.
Today’s notable energy news:
- Trump claims to make progress over Iran’s nuclear talks.
- API forecasts 1.4M barrel drop in US crude stockpiles.
- CP Rail ships 25,000 carloads of crude in Q2 …
… and expects to ship 30,000 carloads in Q3. - Energy Transfer mulls sale of 3.25 Bcf/day Rover Pipeline.
- Equinor begins production from 22 kbbl/day Trestakk field
