Cenovus Energy Inc is trading 6% down at $26.57 following a sharp pullback in crude prices linked to a tentative 60-day U.S.–Iran peace deal and the reopening of the Strait of Hormuz.
- Brent crude fell more than 4%, easing global supply risks and putting significant downward pressure on oil producers’ share prices.
- Energy sector names are lagging the broader market despite generally positive equity sentiment and gains across major indices.