Suncor shares lag as oil slips under $100, TSX rally skips the stock
Suncor Energy Inc. traded lower in Toronto on Monday, falling 3.1% to C$90.12 at 2 p.m. ET. Shares slid as oil prices tumbled, though Canada’s main stock index hit a record. Market data is delayed. Oil’s move today was about one thing: could signs of a peace process around Iran cut the war premium built into prices? Suncor, an integrated energy player, both pulls crude out of the ground and runs refineries. So when oil drops, its upstream business gets squeezed, even though refining margins can soften the blow.