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Energy Summary for July 29, 2024

2024-07-29 18:28 ET - Market Summary

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by Stockwatch Business Reporter

West Texas Intermediate crude for September delivery lost $1.35 to $75.81 on the New York Merc, while Brent for September lost $1.35 to $79.78, dropping below $80 for the first time in seven weeks (all figures in this para U.S.). Bullish traders will be hoping for some relief at this week's OPEC+ meeting on Aug. 1. Western Canadian Select traded at a discount of $12.70 to WTI, up from a discount of $12.90. Natural gas for August lost 10 cents to $1.91. The TSX energy index lost 2.72 points to close at 280.75.

Energy investors prepared for another busy week of financials. Starting today after the close, companies releasing their second quarter results this week include Topaz Energy Corp. (TPZ: $24.59), Tourmaline Oil Corp. (TOU: $58.97), Cenovus Energy Inc. (CVE: $27.05), ARC Resources Ltd. (ARX: $23.20), Imperial Oil Ltd. (IMO: $95.58), Tamarack Valley Energy Ltd. (TVE: $4.04) and others.

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