Suncor Energy Inc. intraday gains 1.83% due to Russia's Novatek gas output increase, while TotalEnergies projects face environmental concerns in Uganda.
AinvestMonday, Jul 15, 2024 11:58 am ET
1min readSuncor Energy Inc. experienced a 1.829% intraday rise during trading. The stock movement was primarily influenced by the news that Russian oil refineries, including those owned by Rosneft and Lukoil, faced reduced output due to maintenance and drone attacks, which negatively impacted refining capacity. This development might have temporarily affected the market's perception of Suncor's business resilience in the energy sector, given the company's reliance on the global oil industry. However, the news from Eni and TotalEnergies, focusing on quantum computing and renewable energy projects, did not have a direct correlation with Suncor's performance, as they are primarily involved in different energy segments.
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