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2015-02-23 20:15:00

OIL PRICES FOR BANKS

OIL PRICES FOR BANKS

A protracted period of low oil prices will negatively impact Canada's major banks more than it will their regional neighbours to the south, says Moody's Investor Services.

"For Canada's major banks, the credit costs on energy-sector loans would rise if oil prices were to remain low for too long, which would hurt the banks' profitability," said David Beattie, a Moody's senior vice-president, in a release.

"Given the historical relationship between oil prices and the impairment rate for energy-related loans, we expect some mild erosion in these loans' asset quality in the coming quarters."

Moody's said revenues from underwriting and capital markets activities could also decline because of potential spending cuts by the major Canadian banks' oil and gas clients.

But the scale and diversity of the Big Six should help partially offset any rise in impaired energy loans and declines in capital markets revenues, the ratings agency said, adding that the credit risk associated with energy-sector loans by U.S. regional banks is more manageable.

"Declining energy costs could actually be positive for the US banks' operating environment, with a neutral to positive effect on their overall asset quality," said Allen Tischler, a Moody's senior vice-president in the same release.

"In many cases, the US banks with the highest exposures are also the most experienced in underwriting energy-sector loans."

valuewalk.com

Tags: OIL, PRICES, CANADA, U.S., BANKS

Chronicle:

OIL PRICES FOR BANKS
October, 20, 12:10:00

NORWAY'S PRODUCTION DOWN 171 TBD

NPD - Preliminary production figures for September 2017 show an average daily production of 1 772 000 barrels of oil, NGL and condensate, which is a decrease of 171 000 barrels per day compared to August.

OIL PRICES FOR BANKS
October, 20, 12:05:00

ЦЕНА URALS: $ $55,55881

Средняя цена на нефть Urals за период мониторинга с 15 сентября по 14 октября 2017 года составила $55,55881 за баррель, или $405,6 за тонну.

OIL PRICES FOR BANKS
October, 18, 19:10:00

OIL PRICE: ABOVE $58

Brent crude futures, the international benchmark for oil prices, were at $58.16 at 0643 GMT, up 28 cents, or 0.5 percent from their last close - and almost a third above mid-year levels. U.S. West Texas Intermediate (WTI) crude futures were at $52.03 per barrel, up 15 cents, or 0.3 percent, and almost a quarter above mid-June levels.

OIL PRICES FOR BANKS
October, 18, 19:05:00

РОССИЯ: БОЛЬШЕ НЕФТИ И ГАЗА

Александр Новак отметил рост основных показателей всех отраслей энергетики в прошлом году: «Мы имеем рекордные показатели за прошлый год по добыче нефти, угля. Идёт рост добычи и экспорту газа, в том числе в Европу на уровне 15 процентов. По углю мы наблюдаем рост добычи даже больше уровня прошлого рекордного года. Также отмечается рост производства электроэнергии на 2%, что говорит об оживлении экономики».

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