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Energy Summary for Oct. 18, 2021

2021-10-18 21:00 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for November delivery edged up 16 cents to $82.44 on the New York Merc, while Brent for December lost 53 cents to $84.33 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.30 to WTI, down from a discount of $13.20. Natural gas for November lost 42 cents to $4.99. The TSX energy index lost 1.89 points to close at 156.21.

Numerous oil patch workers are heading to the polls today, as voters across Alberta pick their next mayors, municipal councillors and school board trustees. One of the most closely watched elections will be the mayoral race in Calgary, where Naheed Nenshi is stepping down after three terms and 11 years on council. There are no fewer than 27 candidates vying to replace him. All have their own ideas on how to lead to a city that looks very different now compared with when Mr. Nenshi started governing in 2010. To give just one example, nearly one-third of the office space in the entire downtown core is now vacant, reflective of the damage of a global pandemic and a prolonged (and only recently reversed) rout in oil prices.

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