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Energy Summary for July 9, 2020

2020-07-09 20:23 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery lost $1.28 to $39.62 on the New York Merc, while Brent for September lost 94 cents to $42.35 (all figures in this para U.S.). Western Canadian Select traded at a discount of $7.93 to WTI, unchanged. Natural gas for August lost four cents to $1.78. The TSX energy index lost 1.50 points to close at 72.20.

The 2020 turnaround tour continued for Vermilion Energy Inc. (VET), down 11 cents to $5.48 on 3.05 million shares. About six weeks have passed since an unexpected management shake-up in which Anthony Marino abruptly stepped down as president and chief executive officer, giving way to Curtis Hicks, who emerged from retirement to become Vermilion's CEO. He had been its executive vice-president and chief financial officer until 2018. Since his surprise rejoining of the company, Mr. Hicks has been active on the conference circuit, and was one of the presenters yesterday afternoon at TD Securities' Virtual Energy Conference.

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