US EditionSharp drop in global crude oil prices drags down Canadian energy stocks
- Concerns about a tariff-driven recession have caused crude oil prices to plummet, significantly impacting Canadian energy stocks.
- West Texas Intermediate crude dropped to US$60.45 per barrel, later recovering slightly to around US$62, marking a four-year low.
- The energy index on the TSX decreased by 8.5 percent mid-afternoon and closed down 8.7 percent on a day when Canada's overall stock market fell more than four percent.
- Mark Parsons from ATB Financial indicated that sustained low prices may lead oil companies to reduce their spending plans for the year.
9 Articles
9 Articles
Canadian energy stocks dragged down by steep drop in global crude oil prices
Fears of a tariff-driven recession has led to a steep drop in the price of crude oil, walloping Canadian energy stocks and stoking worry about the sector's outlook should the weakness persist.
Western Canada Select Heavy Crude Discount Enters Sub-$9 Territory - Energy News, Top Headlines, Commentaries, Features & Events
The discount of Western Canada Select (WCS) heavy crude to the North American benchmark West Texas Intermediate futures (WTI) continued to narrow on Friday, dipping into sub-$9 territory as global oil prices fell to pandemic levels. WCS for May delivery in Hardisty, Alberta, settled at $8.90 a barrel under WTI, according to brokerage CalRock, after ...
Western Canada Select heavy crude discount enters sub-$9 territory
The discount of Western Canada Select (WCS) heavy crude to the North American benchmark West Texas Intermediate futures (WTI) continued to narrow on Friday, dipping into sub-$9 territory as global oil prices fell to pandemic levels. WCS for May delivery in Hardisty, Alberta, settled at $8.90 a barrel under WTI, according to brokerage CalRock, after
Coverage Details
Bias Distribution
- 75% of the sources lean Left
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
