Suncor Energy (NYSE: SU) is a vertically-integrated oil company located in Canada. Unlike its vertically-integrated brethren in the United States, this Canadian stock is up more than 40% this year. By comparison, Exxon Mobil (NYSE: XOM) is down 13%, and ConocoPhillips (NYSE: COP) is down more than 20%.
The reason for the big difference in performance is the weakness in the dollar. That makes Canadian-based Suncor more valuable to investors.
The most likely scenario in the short term is for the dollar to strengthen, which means Suncor will be pressured from here.
I would be a seller of the stock, locking in some very nice gains for 2009.
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Reader Comments (Page 1 of 1)
6-27-2009 @ 5:34PM
Sexy Music said...
When is the price of oil ever going to go down? Just during the elections? I thought that it would be down for a while but I guess too much political control over gas. Our economy is going sour. Can't they at least let us drive to get to where we need to go so we can spend a little money?
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