12:23:35 EDT Tue 24 Apr 2018
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Energy Summary for April 13, 2018

2018-04-13 20:47 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery gained 32 cents to $67.39 on the New York Merc, while Brent for June gained 56 cents to $72.58 (all figures in this para U.S.). Western Canadian Select traded at a discount of $16.80 to WTI ($50.59), unchanged. Natural gas for May gained five cents to $2.74. The TSX energy index gained 2.11 points to 191.91.

Scott Saxberg's Crescent Point Energy Corp. (CPG) gained three cents to $10.02 on 6.52 million shares after slamming its dissident shareholder, Sandy Edmonstone, describing him as a man "associated with negativity." This description is a play on the name of Mr. Edmonstone's Cation Capital; the word cation (pronounced cat-ion) is a chemistry term for positively charged ions. Mr. Edmonstone calls his Cation Capital an investment firm, but Crescent Point calls it a shell company, pointing out that it was incorporated only two weeks ago. Mr. Edmonstone holds 702,471 or 0.1 per cent of Crescent Point's 546 million shares.

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