01:07:04 EDT Sat 19 Jul 2025
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CA



Energy Summary for July 17, 2025

2025-07-17 18:32 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for August delivery added $1.16 to $67.54 on the New York Merc, while Brent for September added $1.00 to $69.52 (all figures in this para U.S.). Western Canadian Select traded at a discount of $13.60 to WTI, down from a discount of $12.40. Natural gas for August lost one cent to $3.54. The TSX energy index lost 3.05 points to close at 266.66.

One of Canada's largest oil producers is celebrating a high-profile marriage -- not to a buyout target, but between two massive offshore drilling structures. Cenovus Energy Inc. (CVE), up 18 cents to $19.30 on 24.8 million shares, has successfully installed a 23,000-tonne deck (also known as a topside module, or just topsides) atop a 210,000-tonne concrete substructure (base) at its West White Rose project off the coast of Newfoundland. "Together at last!" cooed Cenovus in a social media post. An accompanying photograph showed the topsides proceeding down a foggy oceanic aisle while the base awaited their meticulous uniting into one megastructure.

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