IAE trading
iae trades quite differently than most canadian oil and gas producers.in the case of intermediate names most of the funds and analysts seem to stick to the north american producers for some reason. the huge move up since dec in this sector did not include iae in the same way because of this. american money moved back into the sector. today they are taking profits plus wti is down almost 2 bucks. the spread had really narrowed which also boosted the na producers
look at todays trading they are all down a bit but iae is up. the spread is widening again, wti down almost 2 bucks, close to an 8 buck spread.. fundamentally iae is a great story but the drop off in existing production is an issue.
one other plus here, if their is any wiff of the russians turning off or reducing the taps to europe, iae's oil prices will go thru the roof. those barrels that aren't hedged that is.
cheers and gl ferret