Today’s energy market action:
- Oil prices continue to seesaw, ending Wednesday slightly lower.
- US crude inventories decline 1.4M bbls, as Midwest refinery runs improve.
- Gasoline prices rise 0.2%, moving back above US$2/gallon.
- Henry Hub slides 2%, ending the day just above US$2.50/MMBtu.
- Alberta’s heavy oil producers help lift the TSX energy sector by 1.4%.
Today’s notable energy news:
- UCP wins Alberta election, and promises showdown with Trudeau Liberals.
- Cdn crude exports rise 8.5% in Feb, as higher prices offset lower exports.
- Vancouver gas prices hit $1.72, as PADD 5 refineries go down for maintenance.
- Chrysaor in advanced talks to buy UK North Sea assets from ConocoPhillips.
- BP boosts US onshore spending by up to US$1.5B.
- Saudi Aramco buys-out Shell‘s 50% stake in Jubail refinery.
- Halliburton wins new drilling services contract with Shell offshore Brazil.
- Equinor wins seven exploration blocks offshore Argentina.
