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 October delivery lost $1.48 to $67.67 on the New York Merc, while Brent for November lost $1.63 to $71.06 (all figures in this para U.S.). Western Canadian Select traded at a discount of $14.00 to WTI, down from a discount of $12.40. Natural gas for October added two cents to $2.27. The TSX energy index lost 3.91 points to close at 266.09.

Oil prices notched not only a weekly loss, but their largest weekly loss (by percentage) since last October. The week certainly brought no relief for shareholders of one particularly battered Colombian oil producer. Wayne Foo's Parex Resources Inc. (PXT), which spent the first seven months of the year trading above $20, today lost 10 cents to $13.13 on 2.14 million shares. Two unfortunate guidance updates in August have dragged Parex down to levels it has not seen since the COVID downturn of 2020. The first yanked the stock firmly out of the $20 range on Aug. 1, while the second arrived Aug. 28 and slapped it down more than $4 to an unlucky $13.

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