RE:RE:SCR up over 48% in the past 3 months...WOW! Persistence is paying off. Inherited from Pipe at about $39, kept buying lowering my average to about $27+. Newly listed companies are often to a slow start but the main reason for buying was the decision to transition to heavy oil producers.
All negative effects on WCS wide price discounts, like seasonal low refinery utilization, BP Whiting shut down for almost a month in February and endless delays in building the TMX, were temporary. Since late 2023 price differentials went from -$20+ to about -$12.50, a huge gain and in addition to rising WTI lifting WCS from less than $55 to more than $73. Not surprised that money are flowing into heavy oil producers.