The beauty of refining margins I don't know how long this will last but for now, the refining side and the weakening of the CAD$ is
more than making up for the small correction we are having on the oil side.
Two week ago(Aug 1st) WTI closed at $81.37 and our CAD$ was at 75.22 so we were getting
$108.18 and the 3-2-1 spread was at $55.04 CDN
As of this writting, WTI is at $79.90, CAD$ 73.93 so we are getting $108.08( the same as two weeks ago but the crack has gone up to $57.57 .
So Suncor should be even more profitable even though WTI is down $1.47
You may say it ain't much but we had a decent Q2 even though WTI and crack were way down
from last year and now Q3 is shaping up to be even better.
Half way in Q3 and WTI is $4.56 higher than Q2 and crack are even better at $7.23 higher.
Some will say, refining is a declining business.But for now and for many years to come, it looks like
the board took the right decision in keeping the retail side of the business
Life is good and getting better