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 > WCS now over $100 CAD

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Comment by meritmaton Sep 27, 2023 4:19pm

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Post# 35657885

RE:WCS now over $100 CAD

MigraineCall wrote:
While on the topic of $100 oil, with the current $18.24US differential, and exchange rate, today WCS has breached $100 CAD per bbl level and continues to rise.

Kaaa-Ching!

This price has got to have a very positive boost to the cash flows of all Canadian oil sands producers in 23Q4 and onwards.

Yet although oil stocks have recovered some ground to narrow the gap, they still lag the price of oil.

On a side note, I have cut my HOD holdings on the gap pairs trade, as the gap widened as oil surged 3.5% while CNQ only moved 2.2%.

I have now made it a totally biased one sided riskier options trade to benefit from any upward moves, with no HOD as insurance for the trade if oil drops.

Call options are now up about 200%, but the today's spike in oil prices caused a net loss for the trade today, when taking into account the drop in HOD.