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Energy Summary for June 9, 2021

2021-06-09 20:04 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery edged down nine cents to $69.96 on the New York Merc, while Brent for August was unchanged at $72.22 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.93 to WTI, unchanged. Natural gas for July was unchanged at $3.13. The TSX energy index lost a fraction to close at 139.16.

In the oil sands, five major producers made headlines by creating what they called an "unprecedented alliance ... to achieve net zero greenhouse gas emissions from oil sands operations by 2050." The companies (which listed themselves scrupulously fairly in alphabetical order) are Canadian Natural Resources Ltd. (CNQ), down 82 cents to $44.83, Cenovus Energy Inc. (CVE), up nine cents to $12.01, Imperial Oil Ltd. (IMO), up 24 cents to $41.25, MEG Energy Corp. (MEG) up 10 cents to $8.64, and Suncor Energy Inc. (SU), down 30 cents to $30.32.

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