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Energy Summary for Aug. 29, 2017

2017-08-29 18:41 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery lost 13 cents to $46.44 on the New York Merc, while Brent for October added 11 cents to $52 (all figures in this para U.S.). Western Canadian Select traded at a discount of $9.90 to WTI ($36.54), unchanged. Natural gas for September added three cents to $2.96. The TSX energy index added 1.39 points to close at 168.55.

Baytex Energy Corp. (BTE) added nine cents to $3.03 on 4.33 million shares, regaining some of the 13 cents it lost yesterday. The company confirmed last night that it temporarily shut in its production in the Texas Eagle Ford because of tropical storm Harvey. This production averaged 38,528 barrels of oil equivalent a day in the second quarter, or just over half of Baytex's total production of 72,812 barrels a day (with the rest coming from Western Canada). Baytex said it shut in the operations on Friday, Aug. 25. As of yesterday, it was restarting operations, but will have to adjust its level of production to the level of downstream market access.

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