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by Stockwatch Business Reporter
West Texas Intermediate crude for June delivery added 13 cents to $43.78 on the New York Merc, while Brent for July lost 35 cents to $44.62 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.57 to WTI ($30.21), up from a discount of $13.58. Natural gas for June added 5.5 cents to $2.141. The TSX energy index lost 1.16 points to close at 175.85.
Over 88,000 people have been forced to flee a wildfire raging through the city of Fort McMurray, in the largest evacuation in Alberta's history. The government of Alberta issued the emergency evacuation order for the city late yesterday as crews worked to contain the blaze. There have been no deaths or major injuries reported as of this writing.
Several oil and gas producers have had to reduce production near the fire. So far, reductions have been announced by Suncor Energy Inc. (SU: $34.18), Shell Canada, and Connacher Oil and Gas Ltd. (CLC: $0.195). Shell and Suncor, along with Syncrude Canada and Imperial Oil Ltd. (IMO: $40.37), are also opening their work camps and facilities to provide accommodations for evacuated residents, according to their posts on social media. The operations of Syncrude, Imperial, Nexen, Enbridge and Canadian Natural Resources Ltd. (CNQ: $35.94) remain unaffected for now, according to reports from the Financial Post and BNN.
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