Previous close | 0.0800 |
Open | 0.0400 |
Bid | 0.0300 |
Ask | 0.0500 |
Strike | 30.00 |
Expiry date | 2024-06-21 |
Day's range | 0.0400 - 0.0400 |
Contract range | N/A |
Volume | |
Open interest | 859 |
Canada's Suncor Energy is leasing Aframax vessels in the Pacific and selling direct to customers, seeking to maximise profits on oil being shipped on the newly completed Trans Mountain pipeline expansion (TMX), the company said on Wednesday. TMX, which began commercial operations last week, will ship an extra 590,000 barrels per day (bpd) from Alberta to Canada's Pacific coast and is expected to increase access to markets in Asia and the U.S. west coast. Calgary-based Suncor is a committed shipper on TMX and Canada's second-largest oil producer.
Suncor Energy (SU) delivered earnings and revenue surprises of 16.67% and 7.62%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?
Canada's second-largest oil producer Suncor Energy beat first-quarter profit estimates on Tuesday, boosted by strong demand for refined products and record oil sands production. The Calgary-based company said total upstream production was 835,300 barrels per day (bpd), a record for the first quarter and up 12.6% from a year earlier, while oil sands output hit an all-time high of 785,000 bpd. Suncor appointed former Exxon Mobil executive Rich Kruger as CEO last year, after previous CEO Mark Little resigned in 2022.