Today’s energy market action:
- Oil prices post another day of gains …
… sending WTI and Brent back to highs of late-October. - The heavy oil discount widens by US$1.15/bbl …
… sending WCS lower by 1%. - Natgas prices sink over 2%, reversing most of Monday’s gains.
Today’s currency and equity market action:
- The US dollar moves higher by 0.3% …
… sending loonie back below 74.5 cents. - S&P 500, NASDAQ and TSX touch new all-time record highs.
- SPX energy basket unchanged, while TSX energy rises 1.4%.
Today’s notable energy news:
- US and Saudi Arabia stand ready to backfill lost Iranian bbls.
- API forecasts another 7M barrel build in crude stockpiles.
- Teck eyes low-capital expansion of Fort Hills production capacity.
- Murphy Oil acquires GoM deepwater assets from LLOG for US$1.4B.
- Northern Oil & Gas acquires Williston Basin assets from VEN Bakken.
- TechnipFMC wins EPCI contract from ConocoPhillips for TOR II.
- SRC Energy boosts 2019 production guidance to 63-66,000 boe/day.
- Superior Energy Services posts Q1 loss of US$48M.
