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Energy Summary for Oct. 1, 2021

2021-10-01 20:21 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery added 85 cents to $75.88 on the New York Merc, while Brent for December added 97 cents to $79.28 (all figures in this para U.S.). Oil markets headed into the weekend with eyes trained on the coming OPEC+ meeting on Monday. Western Canadian Select traded at a discount of $11.97 to WTI, down from a discount of $11.70. Natural gas for November lost 25 cents to $5.62. The TSX energy index added a fraction to close at 145.35.

Oil sands giant Suncor Energy Inc. (SU) added 21 cents to $26.47 on 8.29 million shares. It has taken over sole operatorship of the Syncrude joint venture, in a move that president and chief executive officer Mark Little cheered as a "critical step toward driving greater efficiencies and competitiveness." Suncor owns a 58.7-per-cent interest in Syncrude. The other owners are Imperial Oil Ltd. (IMO: $41.04), which owns 25 per cent, China's Sinopec, at 9 per cent, and China's CNOOC, at 7.2 per cent.

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