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Energy Summary for Sept. 10, 2020

2020-09-10 20:30 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for October delivery lost 75 cents to $37.30 on the New York Merc, while Brent for November lost 73 cents to $40.06 (all figures in this para U.S.). Western Canadian Select traded at a discount of $8.82 to WTI, up from a discount of $8.96. Natural gas for October lost eight cents to $2.32. The TSX energy index lost 1.60 points to close at 71.10.

Li Ka-shing's Husky Energy Inc. (HSE) lost 18 cents to $3.68 on 4.83 million shares, amid further chatter about yesterday's announcement that it is putting its West White Rose project in Newfoundland up for review and, "by extension, [reviewing] future operations in Atlantic Canada." The grim implication was that Husky might end its nearly 40 years of operations in the region. President and chief executive officer Rob Peabody lamented the "very difficult decision" in the press release yesterday morning. Fortunately for Newfoundland's beleaguered energy industry, Mr. Peabody was in a more optimistic mood by yesterday afternoon, when he made an appearance on BNN.

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