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Energy Summary for July 21, 2020

2020-07-21 20:47 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery added $1.15 to $41.96 on the New York Merc, while Brent for September added $1.04 to $44.32 (all figures in this para U.S.). Western Canadian Select traded at a discount of $9.45 to WTI, unchanged. Natural gas for August added three cents to $1.68. The TSX energy index added 6.71 points to close at 81.92.

Oil sands giant Suncor Energy Inc. (SU) added $1.84 to $24.48 on 11.2 million shares, despite some unfortunate news from one of its non-oil-sands assets, the Hibernia oil field off the coast of Newfoundland. The field has been shut in following what the local regulator called an "unauthorized discharge" of drilling fluids. "While [the operator was] conducting well operations late on July 19, water sampling indicated an exceedance of produced water discharge," the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) reported this morning. Produced water is a mix of sea water from the reservoir, sea water used in injection, and drilling and production fluids (such as polymers and other materials). There are no reported injuries or effects on wildlife. The size of the leak remains under investigation.

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