Post by
integrity11 on Mar 13, 2024 12:42am
Getting Closer to 1 Yr High of 47.76.
Hopefully we see see $48+ this week. Can never get too confident as we know many factors affect the oil price, but SU share price is looking up. EIA May come up with some surprise adjustment tomorrow that will reverse the optimism from the API data released today. But if not the oil price should open above $78 and stay there for hopefully an extended time period.
Comment by
Marty47 on Mar 13, 2024 8:37am
Indeed today we will pass 48$ on the road to 50$ .... think about the q1 results while we closing March on high note, suncor is buying back stocks every month , this will support stock price ....
Comment by
integrity11 on Mar 13, 2024 11:05am
EIA is so predictable. Today they used exports to lesson the affect of the drawdown of inventories. Last week exports were 4.6 million barrels a day. This week they were 3.1 million barrels a day a difference of 1.4 million barrels a day. The normal is about 4.5 mm barrels a day. The draft would be over 10 mm barrels for the week if not for exports.