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Energy Summary for July 29, 2021

2021-07-29 19:54 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for September delivery added $1.23 to $73.62 on the New York Merc, while Brent for September added $1.31 to $76.05 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.45 to WTI, down from a discount of $13.95. Natural gas for September added two cents to $4.06. The TSX energy index added a fraction to close at 125.41.

The oil patch is brimming with financials. Today these included the second quarter report of Canada's largest integrated energy company, Suncor Energy Inc. (SU), down 82 cents to $24.89 on 21.9 million shares. The company swung to a profit of $868-million from a loss of $614-million a year earlier (which was weighed down by nearly $400-million in inventory write-offs). Analysts were forecasting second quarter production of 696,000 barrels of oil equivalent a day and cash flow of $1.51 a share. Suncor came in slightly higher on both counts, at 700,000 barrels a day and $1.57 a share.

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