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Energy Summary for April 22, 2022

2022-04-22 20:15 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery lost $1.72 to $102.07 on the New York Merc, while Brent for June lost $1.68 to $106.65 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.30 to WTI, down from a discount of $12.20. Natural gas for May lost 42 cents to $6.53. The TSX energy index lost 4.57 points to close at 231.24.

Though oil prices notched a weekly decline, oil companies strove to keep a smile on in celebration of Earth Day, the annual feel-good or feel-frantic fest, depending on one's mood. The doomsday crowds busied themselves at rallies across Canada, the United States and Europe, marching and preaching with gusto. Meanwhile, Suncor Energy Inc. (SU: $41.10) chose today to publish a research report on four decades worth of oil sands reclamation, confirming that the vegetation on reclaimed sites is looking "increasingly similar" to never-disturbed sites. Separately, Cenovus Energy Inc. (CVE: $21.96) (perhaps not checking its calendar properly) announced yesterday that it has made a $3-million (U.S.) donation to the Nature Conservancy of Canada.

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