Monday, August 17, 2020

Notes From All Over -- Early Morning Edition -- August 17, 2020

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Fast and furious:

Crude oil, fast and furious: 

 
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Canada

Suncor: production and refining hemmed in -- Fitzsimmons -- SeekingAlpha;
  • like most energy companies, Suncor has been heavily affected by the demand destruction caused by Covid-19.
  • but the truth is, Suncor's business had been in decline well before the pandemic hit and throughout most of 2019.
  • in fact, the stock is now trading at roughly the same level it was 15 years ago and the dividend was cut by 55%.
  • with production and refining both hemmed in, it's hard to find a positive catalyst for the stock.

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