Canadian Energy Stocks Gain as Middle East Conflict Drives Oil
Dow Jones
Yesterday
1011 ET - Canadian energy stocks lead the few gainers on the TSX after flare ups of fighting in the Middle East push oil prices higher. Crude oil is up 3% following U.S. strikes on Iranian rocket launch sites in the Strait of Hormuz. The higher price lifts Canada's major oil producers, with Vermilion Energy, Athabasca Oil, Strathcona Resources, Suncor and Cenovus among the top performs, rising 3.5%, 2.4%, 1.7%, 2.6% and 2.6%, respectively. The energy sector has experienced volatile trading in recent weeks as crude prices swing on shifting geopolitical tensions in the key oil-producing and exporting region.
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