23:09:28 EDT Tue 06 Jun 2023
Enter Symbol
or Name

Login ID:

Energy Summary for Nov. 7, 2022

2022-11-07 20:46 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 December delivery lost 82 cents to $91.79 on the New York Merc, while Brent for January lost 65 cents to $97.92 (all figures in this para U.S.). Western Canadian Select traded at a discount of $29.56 to WTI, up from a discount of $29.70. Natural gas for December added 54 cents to $6.94. The TSX energy index added a fraction of a point to close at 271.57.

Oil prices had a choppy day, as the Chinese government quashed rumours that it will start easing its stringent COVID Zero restrictions. Health officials stated over the weekend that the government will adhere "unswervingly" to its current policies, despite public frustration. China is currently facing its biggest surge in COVID cases in six months. The bearish news from China was somewhat offset by a dip in the U.S. dollar, as traders await the results of the midterms tomorrow and an inflation report on Thursday. A weaker dollar makes oil less expensive in other currencies, boosting demand.

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.