06:10:28 EDT Sun 04 Jun 2023
Enter Symbol
or Name

Login ID:

Energy Summary for July 18, 2022

2022-07-18 20:18 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery added $5.01 to $102.60 on the New York Merc, while Brent for September added $5.11 to $106.27 (all figures in this para U.S.). Western Canadian Select traded at a discount of $19.75 to WTI, up from a discount of $20.90. Natural gas for August added 46 cents to $7.48. The TSX energy index added 7.36 points to close at 213.51.

Oil sands giant Suncor Energy Inc. (SU) added 42 cents to $39.74 on 18.9 million shares, after announcing a truce with (or capitulation to) activist shareholder Elliott Investment Management. The formal agreement announced this morning will see Suncor add three directors and launch a "strategic review" of its downstream retail (gas station) business.

Two of the new directors will serve on the search committee for a new chief executive officer. Suncor's former CEO, Mark Little, resigned 10 days ago after the latest in a string of workplace fatalities. The "strategic review" is a euphemism for putting the retail business up for sale.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2023 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.