Crack spreadsJuly 7th 2023 3-2-1 closed at CDN $45.75, 2-11 closed at $45.47 while WTI was at $98.04.
Fast forward one month.
3-2-1 is presently at $53.55, 2-1-1 at $55.79 and WTI at $111.29
Who knows were we will be 1, 2, 6 months down the road but for now these refiners are
making boatload of $$$.
The Saudi seems to have put a floor on Brent.
2 weeks ago we saw a technical inflection point on many energy stocks(including SU).
SU won't go up every single day but we do have a trend reversal so....
Being my biggest position, i see the bright side of the situation and can understand
that many won't come to the same conclusion as i.
That's the beauty of the stock market.For every buyer, their is a seller thinking the opposite.
Good luck to all