Suncor Energy Inc T.SU

Alternate Symbol(s): SU

Energy Oil & Gas Integrated

Suncor Energy Inc. is a Canada-based integrated energy company. The Company's segments include Oil Sands, Exploration and Production (E&P), and Refining and Marketing. Its operations include oil sands development, production and upgrading; offshore oil production; petroleum refining in Canada and the United States; and the Company’s Petro-Canada retail and wholesale distribution networks (including Canada’s Electric Highway, a coast-to-coast network of fast-charging electric vehicle (EV) stations). The Company is developing petroleum resources while advancing the transition to a lower-emissions future through investments in lower-emissions intensity power, renewable feedstock fuels and projects targeting emissions intensity. The Company also conducts energy trading activities focused primarily on the marketing and trading of crude oil, natural gas, byproducts, refined products and power. It also wholly owns the Fort Hills Project, which is located in Alberta's Athabasca region.

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Suncor Energy Inc > Reminder: EIA oil inventory report today 11AM EST

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Comment by MaximusGainuson Jul 07, 2022 11:21am

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Post# 34808405

RE:RE:Reminder: EIA oil inventory report today 11AM EST

The gasoline and distillate drops while refineries are cranking it out sure doesn't smell like demand destruction due to high prices to me.

More pain at the pumps coming soon. I love it!

MigraineCall wrote: And here it is.
A big commercial headline build, but again, an overall net draw.

US petroleum inventories (crude, oil products, SPR) fell by 714kb w/w to 1,677.795mb last week - EIA

EIA (wk ending 1 July)
Crude: 8.235M
Cushing: 0.069M
Gasoline: -2.497M
Distillates: -1.266M

US crude inventories rose by 2.394mb last week (commercial +8.234mb, SPR -5.840mb) - EIA

MigraineCall wrote: Watch your screens today for stock price movment as oil inventory results are released to day at 11AM EST.

July 4 was a holiday, so results are delayed 24.5 hours.

Lots of eyes on this. Bears are expecting demand destruction. If they get anything other than a build, they will be proved wrong, and run to cover short positions.