Suncor Energy Inc is trading 4.8% down at $58.65 following a sharp pullback in crude prices triggered by the announced U.S.–Iran peace deal and the reopening of the Strait of Hormuz.
- The geopolitical breakthrough has significantly eased global supply concerns, putting immediate downward pressure on energy equities.
- Energy stocks are lagging behind the broader market as investors rotate into tech and AI sectors, which are benefiting from expectations of lower fuel costs and reduced inflation pressures.