08:49:40 EDT Fri 02 Jun 2023
Enter Symbol
or Name

Login ID:

Energy Summary for Sept. 14, 2022

2022-09-14 20:59 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 October delivery added $1.17 to $88.48 on the New York Merc, while Brent for November added 93 cents to $94.10 (all figures in this para U.S.). Western Canadian Select traded at a discount of $20.38 to WTI, unchanged. Natural gas for October added 83 cents to $9.11. The TSX energy index added 7.13 points to close at 244.35.

Oil prices headed higher as traders combed through competing headlines. The International Energy Agency (IEA) released its closely watched monthly report this morning, cutting its forecast for global oil demand in 2022 -- while adding that COVID-afflicted China could see demand fall for the first time in more than three decades -- but predicting a sharp rebound in 2023. Meanwhile, prices got a boost from the threat of a large-scale U.S. railway strike that could start as early as Friday. U.S. refiners are urging Congress to intervene and prevent what could be major disruptions to oil and gas deliveries. (The U.S. fuel and petrochemical industry sees roughly two million carloads of feedstock and refined products moved by rail annually.)

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.