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Oil Summary
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Energy Summary for May 15, 2018

2018-05-15 20:39 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery gained 35 cents to $71.31 on the New York Merc, while Brent for July gained 20 cents to $78.43 (all figures in this para U.S.). Western Canadian Select traded at a discount of $15.45 to WTI ($55.86), unchanged. Natural gas for June lost a fraction of a cent to $2.84. The TSX energy index gained a fraction of a point to 205.82.

Neil Roszell's Raging River Exploration Inc. (RRX) lost 18 cents to $7.77 on 5.89 million shares, despite releasing first quarter results that met analysts' and the company's own predictions, and despite releasing a pleasing update from the East basin Duvernay. Note that the stock has climbed from about $5.90 since the beginning of April, so today's pullback is not surprising. The company produced 24,118 barrels of oil equivalent a day (93 per cent oil and natural gas liquids) in the first quarter, slightly exceeding its target of 23,500 to 24,000 barrels a day. Its $118.4-million capital expenditure for the quarter came in slightly above its budget of $115-million.

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