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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

Comment by MigraineCallon Oct 11, 2023 1:36pm
164 Views
Post# 35679078

RE:RE:RE:RE:Big drop?

RE:RE:RE:RE:Big drop?Totally agree with that.
There's your game plan!

One more thing I should point out is that last week's extreme EIA excessive gasoline build last week of  6mm bbl, does not correspond with Gas Buddy data, which shows a few hundred K more per day on the demand side.

It could have been a very low implied demand as retailers delayed ordering fuel from wholesalers during the recent price drop, but they have by now which would reverse the build. 

If EIA gasoline stock report corrects to show higher demand, it leads to higher cracks, which mean a higher oil price. 

Stay tuned for Thursday's delayed EIA report due at 11AM EST due to Monday's Columbus day holiday, that few recognize.

liljohnnyjoke wrote: I doubt many will want to risk being short oil going into this weekend.

On the other hand if oil runs back up before the weekend just on risk and nothing BIG happens then oil price likely drops significantly come Monday.


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