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Suncor Energy Inc T.SU

Alternate Symbol(s):  SU

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.


TSX:SU - Post by User

Post by lifeisgood1010on Aug 08, 2023 3:00pm
163 Views
Post# 35578086

Crack spreads

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

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