Previous close | 0.1200 |
Open | 0.1300 |
Bid | 0.1000 |
Ask | 0.1300 |
Strike | 33.00 |
Expiry date | 2024-06-21 |
Day's range | 0.1200 - 0.1300 |
Contract range | N/A |
Volume | |
Open interest | 4.72k |
Demand for refined products remained high in the quarter as outages at Russian refineries following Ukrainian attacks and heavy refinery turnaround tightened fuel supplies to global markets. Earnings were also helped by growing demand for oil in the U.S., the biggest importer of Canadian oil, which rose more than the forecast in February according to data from the U.S. Energy Information Administration, helping oil producers like Suncor Energy. Canada's second-biggest oil producer said total upstream production was up at 835,300 bpd in the quarter, up 12.6% from a year earlier.
Canada's Suncor Energy beat first-quarter profit estimates on Tuesday as the integrated oil and gas firm benefited from demand for refined products and higher oil production. Demand for refined products remained high in the quarter as outages at Russian refineries following Ukrainian attacks and heavy refinery turnaround tightened fuel supplies to global markets. Earnings were also helped by growing demand for oil in the U.S., the biggest importer of Canadian oil, which rose more than the forecast in February according to data from the U.S. Energy Information Administration, helping oil producers like Suncor Energy.
Cenovus (CVE) delivered earnings and revenue surprises of 31.43% and 0.43%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?