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Bullboard - Stock Discussion Forum 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... see more

TSX:SU - Post Discussion

Suncor Energy Inc > Big drop?
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Post by mbuch on Oct 11, 2023 10:57am

Big drop?

Oil markets shrugging off the latest war I guess?

How fickle.
Comment by Experienced on Oct 11, 2023 11:03am
mbuch...Yep... My post from a few days ago in respoinse to a post by Migraine.. "Obviously we will need to see how this plays out. Saudi Arabia under MBS are moving towards a normalization of relations between them and Israel.  In an interview with Brett Baier MBS made it clear that he wants an agreement.  It is also well known that many members of MBS' inner circle of ...more  
Comment by MigraineCall on Oct 11, 2023 12:12pm
Today is a technical drop in the oil price, moving down to close the gap made by Monday's rally. There must still be SOME risk premium left in oil in the current situation, so today is a very high probability for further increases, from a trading perspective. I sold half of my options yesterday, and am now buying them back today at a discount, with a new position in HOU from around $83.70 WTI ...more  
Comment by liljohnnyjoke on Oct 11, 2023 12:53pm
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.
Comment by MigraineCall on Oct 11, 2023 1:36pm
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 ...more  
Comment by mrbb on Oct 11, 2023 6:40pm
remember i had said EIA often make amendment to their published data. I thought it's for political reason but i dug this article, where EIA stated what and why they do. Why You Shouldn’t Believe Those Headlines About Energy And Emissions In 2050 (forbes.com) “EIA is really sure that what we project in here is not going to happen,” said David Daniels, EIA’s chief energy modeler. “It is wrong. ...more  
Comment by MigraineCall on Oct 13, 2023 9:46am
With oil at $86 this morning, time for us to take profits liljohnnyjpoke. May fall on Monday. It is just free money.
Comment by liljohnnyjoke on Oct 13, 2023 10:19am
I didnt get my sub $15 HOU fill yesterday but if I had I would also ring the the register on the pop in oil today. Oil could drop Monday  if war doesnt escalate to involve others this weekend, or skyrocket if full mid east conflict breaks out Looks like the massive Israeli force is looking to start the full genocide of Gaza tomorrow while US stands guard to make sure no outside interference ...more  
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