CNBC’s ‘Halftime Report Final Trades’ discussed key market movements, featuring Tesla’s 4680 cell production milestone, Interactive Brokers’ bullish outlook, Suncor Energy’s potential, and Jim Lebenthal’s pick for iShares Core S&P Small-Cap ETF.
Results for: Suncor Energy
Suncor Energy Inc. has announced it will lease and operate Aframax oil tanker ships to transport crude from the recently completed Trans Mountain pipeline expansion to Pacific markets. This move aims to save on shipping costs and maximize profits for the company. The Trans Mountain pipeline expansion has increased Canadian oil shippers’ access to export capacity, boosting the profitability of Suncor’s oilsands production. It has also enabled future production growth for both Suncor and the oilsands sector. Suncor’s long-term contracts with customers along the West Coast and in Asia ensure a steady demand for the crude oil transported by the pipeline.