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Energy Summary for Dec. 31, 2019

2019-12-31 20:23 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for February delivery lost 62 cents to $61.06 on the New York Merc, while Brent for March lost $2.44 to $66.00 (all figures in this para U.S.). Though down today, these benchmarks have respectively risen by about 34 per cent and 23 per cent in 2019, their biggest yearly gains in three years. Western Canadian Select traded at a discount of $22.30 to WTI, down from a discount of $22.00. Natural gas for February stayed unchanged at $2.19. The TSX energy index added a fraction to close at 145.96. It is the last day of 2019, a decidedly mixed year for energy investors.

After the turbulence of 2018, many energy stocks entered 2019 at their lowest levels in years. Some rallied while others dug even deeper. Of the 17 oil and gas stocks that are currently in the TSX energy index (down from 22 this time last year), a plucky six managed to end 2019 higher than they began it (compared with just one last year). Interestingly, the gains and losses were consistently on the large side, with 11 of the stocks seeing a change of at least 20 per cent in value over the year. The trick, of course, was to pick among the five that enjoyed at least 20-per-cent gains.

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