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Commodities

$13.3 Billion Windfall: Canada's Oil Sands Companies Profit Big Time on Middle East War

Guavy AI Editorial Team
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Oil
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Cash-rich oil sands companies in Canada are enjoying profits of $13.3 billion over three months, thanks to high oil prices driven by Donald Trump's war on Iran.

Economist Jim Stanford says Canadian households and businesses are paying the price for these high profits.

The four biggest publicly-traded oil sands producers - Cenovus Energy, Suncor Energy, Imperial Oil, and Canadian Natural Resources Ltd. - have seen their combined profits increase this year due to global market alignment.

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