Suncor Energy Inc T.SU

WTI $95 tomorrow?

[liljohnnyjoke]

if a repeat of last Friday's @ $5 jump on threat of supply disruptions

maybe WTI $100 by the following Friday?

Iran must be loving this, raking in oil money because Israel at war

[mrbb]

i was surprised and disappointed that WTI had drop down to 82.9 level on Oct 10 even knowing that an middle east arena was re-ignited on Oct 7 but rather focus of the easing of VZ sanction non event which takes years to revamp their oil infrastructure.  IMO, WTI should be 90-95 with current israel-arabs tension level. It would take a direct Iran involvement to take WTI > 100.  It'

[liljohnnyjoke]

if WTI is $95-100 by month end (especially with no supply disruption) it will be almost certainty for a fed rate hike on Nov 1 of .25 at least, then sell off of the broader market on recession fears once again. Sounds like by the time Venezuala is back up to full speed Exxon will have its massive finds in Guyana (which Venezuala say is theirs) on line. Suriname is flush with oil waiting to come on

[Experienced]

liljohnny....good points From my perspective and historical experience, Israel, Hamas (Gaza) and Hezbollah (Lebanon) can pound the living sheet out of each other but it will have no impact on world demand or supply of energy. The only real thing that can affect this equation is if in Biden's speech this evening he either re-implements the Trump era sanctions on Iranian oil exports or at

[meritmat]

It will be Decades before Venezuala has any meaningfull production.  I have shut in wells and facilities in Alberta and come back in a couple years to start them back up and its a pia, all sorts of issues.  Never mind stuff shut in for years in the middle of the jungle.  If I need something I run to my spuuly store or pick up the phone and get the services out I need.  Aint

[mrbb]

VZ can boost production by 25% i believe it when i see it.  Most of VZ crude is heavy oil. Heavy oil pools aren't as easy to turn off and on like NG and light oil. Sanction lift only good for for 6 months,  VZ need to import diluents (up front cash which VZ lack) to thin out the heavy oil for transport. 

[mrbb]

Also, whould chevron throw in lot of money into VZ  for a 6 month run of production? They likely just pump off the storage tanks and spend on the few easy low hanging fruit wells.  

[matt2018]

Indeed gents.  Shows how desperate the administration is by lifting sanctions on VZ hoping for some heavy to replace the Mexican imports that will drop off as they need to feed their new refinery. Don't believe the majors will seriously invest there anymore with aged infrastructure, when you have so many better opportunities to acquire producers in stable jurisdictions (like Exxon just