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 December delivery lost $1.18 to $87.90 on the New York Merc, while Brent for December lost $1.19 to $95.77, both benchmarks notching a weekly increase (all figures in this para U.S.). Western Canadian Select traded at a discount of $28.75 to WTI, down from a discount of $27.25. Natural gas for December lost 20 cents to $5.68. The TSX energy index lost 1.04 points to close at 257.98.
It was a fruitful Friday in the oil and gas sector, as heavyweights turned the flood of quarterly financials into a tidal wave of profits. U.S. giants Exxon and Chevron published their third quarter reports this morning and raked in combined net income of over $30-billion (U.S.). For Exxon, the $19.7-billion (U.S.) net profit was the highest in its 152-year history; for Chevron, its $11.2-billion (U.S.) profit was its second best in 143 years. These came on the heels of near-record financials released by European competitors Shell and Total earlier this week.
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.