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Energy Summary for Oct. 24, 2022

2022-10-24 20:41 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for December delivery lost 47 cents to $84.58 on the New York Merc, while Brent for December lost 24 cents to $93.26 (all figures in this para U.S.). Western Canadian Select traded at a discount of $27.00 to WTI, down from a discount of $25.75. Natural gas for November added 24 cents to $5.20. The TSX energy index added 1.95 points to close at 253.44.

Oil prices had a lacklustre start to the week, on ho-hum Chinese consumption data. Here in Canada, the oil patch is bracing for quarterly reporting season, which will kick off after the close today with the third quarter financials of PrairieSky Royalty Corp. (PSK: $20.50). Other companies reporting their financials this week include Crescent Point Energy Corp. (CPG: $10.40), Whitecap Resources Inc. (WCP: $10.42), Tamarack Valley Energy Corp. (TVE: $4.61), Advantage Energy Ltd. (AAV: $9.74) and Imperial Oil Ltd. (IMO: $66.65).

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