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Energy Summary for Dec. 28, 2022

2022-12-28 20:48 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for February delivery lost 57 cents to $78.96 on the New York Merc, while Brent for February lost $1.07 to $83.26, both benchmarks settling lower in light intraholiday trading (all figures in this para U.S.). Western Canadian Select traded at a discount of $27.50 to WTI, up from a discount of $28.00. Natural gas for January lost 57 cents to $4.71. The TSX energy index lost 5.84 points to close at 238.66.

Oil sands giant Suncor Energy Inc. (SU) lost 29 cents to $42.52 on 22.2 million shares. It is not having a cheerful holiday season, as it grapples with workplace injuries on one front and injured acquisition prospects on another. Starting with the first item, two workers were hurt in a fire on Christmas Eve at Suncor's Commerce City refinery in Colorado, according to the local Denver Post. The cause of the fire and the extent of the injuries are not yet clear. Suncor said in a statement that it immediately triggered its emergency response measures and evacuated non-essential workers. "The fire was extinguished, and everyone has been accounted for," it said.

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