07:03:10 EDT Fri 02 Jun 2023
Enter Symbol
or Name

Login ID:

Energy Summary for Dec. 15, 2022

2022-12-15 20:56 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 January delivery lost $1.17 to $76.11 on the New York Merc, while Brent for February lost $1.49 to $81.21 (all figures in this para U.S.). Western Canadian Select traded at a discount of $26.50 to WTI, unchanged. Natural gas for January added 54 cents to $6.97. The TSX energy index lost 2.44 points to close at 239.22.

After three straight days of gains, oil prices pulled back today on recession fears. The Bank of England and the European Central Bank hiked interest rates today in an effort to curb inflation. The U.S. Federal Reserve also signalled that it will continue to raise interest rates next year, possibly to the highest level since 2007. Further weighing on oil prices was a weak industrial report from China, which posted its slowest monthly increase in factory output since May, amid surging COVID cases and lockdowns.

Closer to home, Western Canadian and Texas oil producer Baytex Energy Corp. (BTE) edged up three cents to $5.92 on 5.33 million shares. Fresh SEDI filing shows that new president and chief executive officer Eric Greager, who took over from Ed LaFehr last month, bought his very first shares in the company this week. He spent $136,507 and now owns 23,000 of Baytex's 547 million shares.

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.