22:55:31 EDT Wed 22 May 2019
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Oil Summary
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Energy Summary for March 14, 2019

2019-03-14 20:21 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery added 35 cents to $58.61 on the New York Merc, while Brent for May lost 32 cents to $67.23 (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.70 to WTI, up from a discount of $10.77. Natural gas for April added four cents to $2.86. The TSX energy index added a fraction to close at 156.58.

Li Ka-shing's Husky Energy Inc. (HSE) lost 26 cents to $13.89 on 3.87 million shares, after arranging a $750-million (U.S.) senior note offering. The notes bear interest at 4.4 per cent and mature in 2029. Husky says it will use the proceeds for general purposes, including the repayment of debt due this year. The note offering will not actually cover all of the debt due this year; according to Husky's latest financials, the amount of notes due in 2019 exceeded $1.4-billion as of Dec. 31, 2018. Husky is unconcerned, as even before this latest note offering, it had $2.9-billion in cash and $4.3-billion in unused credit facilities.

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