Today’s energy and equity market summary:
- Oil prices move up just over 1% on Monday.
- Gasoline dips 0.4%, while Henry Hub gains 3%.
- Loonie drops by 0.4%, while USD edges up 0.1%.
- Energy stocks rise 0.4% on SPX, and 0.5% on TSX.
Today’s notable energy news:
- AltaGas sells US power generation assets to TerraForm Power for $940M.
- Philadelphia Energy Solutions files for Chapter 11, again.
- Q2 revenues at PrairieSky fall 9% on lower output and lower oil prices.
- H1 revenues at Schlumberger fall 2% due to weakness in North America.
- BP forms new JV with Brazil’s Bunge, boosting biofuels business.
