Arc Energy Charts

WTI has fallen by $14.15/B in the last 5 weeks; Keystone XL faced a setback in a Montana court; Imperial approved a new SAGD project for 2022

WTI is discounted to global oil prices; US oil production passed 11.3 MMB/d in Aug; US oil storage up 22 MMB in the last 4 weeks

E&P stocks fell along with the broader market; The BOC raised interest rates by 0.25%; Canadian oil prices remain discounted

Enbridge apportionment #’s for Nov released; Net WTI longs fell to a low since October 2017; US crude stock builds have depressed oil prices