Bullboard - Stock Discussion Forum Cenovus Energy Inc CVE

Primary Symbol: T.CVE Alternate Symbol(s): CVE.WS | T.CVE.WT | T.CVE.PR.A | CNVEF | T.CVE.PR.B | T.CVE.PR.C | T.CVE.PR.E | T.CVE.PR.G

Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The Company's segments include Upstream, Downstream, and Corporate and Eliminations. Its Upstream segment includes Oil Sands, Conventional, and Offshore.... see more

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Cenovus Energy Inc > Oil

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Post by andy604 on Aug 05, 2024 12:40pm

Oil

Traffic o land/sea/air/ is still very heavy daily, oil is still a anti-inflationary commodity to me, i am predicting a draw come Tues/Wed , any thoughts ?

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Comment by Quintessential1 on Aug 05, 2024 1:52pm

3 draws in a row previoulsy. It would be nice to have a fourth to confirm North American demand is continuing even with US recession fears creeping into market sell-offs. It seems the Chinese are pushing the global price down on their lower economic forecasts even with not only no sign of peace in the middle east but escalating tensions. If Iran comes out from behind its proxies ...more

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Comment by downwithdotcom1 on Aug 06, 2024 5:28pm

Usual newsfeeds don't have the API numbers out yet..what's the deal???

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Comment by Quintessential1 on Aug 06, 2024 6:39pm

I have them with a 0.180M build on a forcasted 0.850M build so bullish. With 3 previously larger than expected draws I think this is about as good as can be expected. https://ca.investing.com/economic-calendar/api-weekly-crude-stock-656 GLTY and all

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Comment by Quintessential1 on Aug 07, 2024 9:20am

Just waiting on EIA data to hopefully confirm the lower than expected inventory build shown by API data. WTI crude oil futures rose to around $73.6 per barrel on Wednesday, erasing earlier losses and rising for the second straight session, underpinned by persistent supply-side concerns. Reports indicate that Hamas has appointed Yahya Sinwar as its new leader, raising concerns that this could ...more

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Comment by Quintessential1 on Aug 07, 2024 10:47am

Weird week. EIA updated its release date to Aug 7 but didn't update this weeks 10:30 am reports. I guess we will have to wait until 1PM when they update the full report and see if they catch their own glitch. In the meantime API data and the increasing war premium risk have WTI on the rise for a now. GLTA

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