RE:RE:Volume SpikeTalking to some investing people their reaction to the situation is Surge wisely left the divy increase decision to later in October after the investor vote to see what the oil price situation was at the time and then go ahead or not. The retail investors have decided oil differentals are too large at this time to proceed with the increase and are bringing the divy rate up in line with it's peers in that group.
For the last month the trading volumes have been light, ie, mostly retail, yesterday and today volumes has become very heavy meaning institutional investors are taking postitions at lower prices, which we all know this what they do.
As for the differentials being what they are is not hard to explain, addition of 150,000 bpd of oil sands,(Fort Hills) 3 times the refinery maitenance then normal (new emmission standards) and air barrels on Enbridges pipes. Will it last? Refineries come back on line, Enbridge optmization, and increased rail should reduce the differentials considerably later in the year. For now the market is pricing no divy increase for now.