This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery added 19 cents to $92.60, while Brent for November added 96 cents to $105.28 (all figures in this para U.S.). Western Canadian Select traded at a discount of $25.00 to WTI, down from a discount of $22.80. Natural gas for October lost 19 cents to $3.00. The TSX energy index added 1.30 points to close at 440.99.

Oil prices bounded higher in the morning, after U.S. President Donald Trump said over the weekend that he has rejected an offer from Iran to reopen the Strait of Hormuz, saying Iran's terms (including a resumption of nuclear talks) were "unacceptable." He told reporters today that the United States will win its war with Iran "very soon." Over the course of the day, oil prices gave back some gains as Saudi Arabia resumed exports through its repaired East-West pipeline, easing regional supply concerns.

Here in Canada, with Alberta's Oct. 19 separation referendum three weeks away, another prominent oil patch voice has come out against the idea. Alex Pourbaix, chairman of Cenovus Energy Inc. (CVE: $44.12), "sits firmly in the pro-Canada camp," summarized The Globe and Mail after interviewing Mr. Poubaix, who also called on fellow business executives to speak up. The hesitancy to wade into a politically charged debate is understandable, he said, but time is running short. He believes it "would certainly be helpful if industry leaders who have an opinion on this would be more vocal."

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS