08:12:38 EDT Fri 02 Jun 2023
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

Energy Summary for Oct. 6, 2022

2022-10-06 20:44 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 November delivery added 69 cents to $88.45 on the New York Merc, while Brent for December added $1.05 to $94.42 (all figures in this para U.S.). Western Canadian Select traded at a discount of $24.40 to WTI, unchanged. Natural gas for November added four cents to $6.97. The TSX energy index added 4.71 points to close at 247.26.

Oil prices marched higher on continued enthusiasm for yesterday's OPEC+ announcement, signalling its largest production cut in years. Bankers and analysts jockeyed for position among the bulls. "By December of this year, Brent would reach over $100 (U.S.) per barrel, up from our earlier call for $89 (U.S.)," Jorge Leon, senior vice-president of the Oslo-based Rystad Energy, predicted to Reuters. Rohan Reddy, director of research at the New York-based Global X Management, told Bloomberg that he sees prices reaching $110 (U.S.) next year. Goldman Sachs has raised its forecasts to $104 (U.S.) in 2022 (up from $99 (U.S.) and $110 (U.S.) in 2023 (up from $108 (U.S.)).

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.