On July 14, Suncor Energy rose 3.02% in regular trading, trading at $61.06 per share, with turnover of approximately $85.77 million. The integrated oil and gas sector saw broad-based gains as geopolitical risks surrounding the Strait of Hormuz continued to support crude oil prices.
Earlier this month, Iran's Islamic Revolutionary Guard Corps fired at least two missiles at commercial vessels transiting the Strait of Hormuz, causing WTI crude to climb above $70 per barrel and Brent crude to rise above $73. The sustained supply disruption risk has provided ongoing support to oil and gas equities sector-wide.
Within the Integrated Oil and Gas sector, BP rose 3.64%, Exxon Mobil gained 3.55%, Chevron advanced 2.18%, Occidental climbed 2.16%, and Shell added 1.81%. Suncor is also approaching its Q2 earnings release and continues to advance its CA$6.93 billion acquisition of Meg Energy, which is expected to boost production by approximately 4%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
