13:15:54 EST Tue 07 Dec 2021
Enter Symbol
or Name

Login ID:

Energy Summary for Oct. 14, 2021

2021-10-14 20:09 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery added 87 cents to $81.31 on the New York Merc, while Brent for December added 82 cents to $84.00 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.20 to WTI, down from a discount of $12.79. Natural gas for November added 16 cents to $5.69. The TSX energy index added 3.45 points to close at 157.79.

High fuel prices are stoking a crisis that could jeopardize the global economic recovery, according to the International Energy Agency (IEA). The Paris-based agency has released the latest version of its monthly Short-Term Energy Outlook. Amid "heightened levels of uncertainty," one thing that seems certain to the IEA is that many consumers are facing a painful winter. High heating bills and rolling blackouts are creating "inflationary pressures that ... could lead to lower industrial activity and a slowdown in the economic recovery," wrote the IEA. It predicted that demand will continue to outpace supply until at least the end of 2021. As a result, for the fourth quarter, it hiked its Brent oil price forecast to $81 (U.S.) (a $10 (U.S.) or 14-per-cent increase from last month's report) and boosted its U.S. gas price forecast to $5.80 (U.S.) (a $1.80 (U.S.) or 45-per-cent increase).

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2021 Canjex Publishing Ltd. All rights reserved.

Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.