14:21:34 EDT Fri 03 May 2024
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Energy Summary for April 12, 2024

2024-04-12 19:10 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery added 64 cents to $85.66 on the New York Merc, while Brent for June added 71 cents to $90.45, both benchmarks notching a weekly loss (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.30 to WTI, down from a discount of $13.10. Natural gas for May added one cent to $1.77. The TSX energy index lost 3.12 points to close at 298.67.

Ronald Poelzer and Keith MacPhail's Alberta Montney producer, NuVista Energy Ltd. (NVA), lost 22 cents to $12.20 on 784,200 shares. This was a return to normal volume after yesterday's sudden surge to 6.39 million shares. The explanation for the surge arrived this morning, courtesy of a major shareholder that also happens to be a competitor of NuVista. Jim Riddell's Montney- and Duvernay-focused Paramount Resources Ltd. (POU), down 70 cents to $29.41 on 422,600 shares, announced that it sold six million shares of NuVista yesterday for a total of $75-million.

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