Today’s oil & gas company market action:
- OECD warns trade wars dragging on global economic growth.
- Brent falls 1.6%, while WTI slips 2.5%, taking WCS down over 3%.
- Discounts on Cdn Light and C5+ widen, returning to levels of mid-Dec.
- Gasoline and heating oil fall 1.5%, while Henry Hub gives back 3%.
- Equity markets remain in defensive mode on Wednesday …
… as energy sectors drag SPX and TSX lower.
Today’s notable oil & gas company news:
- Higher gas prices help give Cdn retail sales a boost in March.
- US crude stockpiles unexpectedly build 4.7M bbls …
… as refinery utilization falls below 90%. - Sempra Energy strikes 20-yr deal with Saudi Aramco for Port Arthur LNG …
… and delays start-up of US$10B Cameron LNG - Sasol warns costs for Lake Charles plant trending closer to US$13B.
- Dutch earthquake renews calls to shutdown Groningen gas field.
- Suncor Energy issues $750M in senior unsecured notes.
- Secure Energy Services approved for buyback of another 8M shares.
