Foreign mutual funds and ETFs sold $5B in Canadian energy stocks amid oil volatility: CIBC

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Mutual Funds,Canadian Natural Resources,Canadian Energy Stocks

Canadian Natural Resources shares accounted for $2.8 billion worth of the sales, followed by TC Energy at $1.2 billion, and Cenovus Energy at $721 million...

Foreign mutual funds and exchange traded funds sold about $5 billion worth of Canadian oil and gas stocks in the first half of 2024, say researchers at CIBC Capital Markets.) rose above US$86 per barrel before dipping into the US$70 range. Oil produced in Canada typically sells at a discount to the price of WTI.

He adds that sales of Canadian energy stocks by foreign mutual funds and ETFs in the first half of 2024 were “materially larger” than sales of other global energy stocks, at three to five times the size. Compatio AI Announces Groundbreaking VFD System Configurator Model for Industrial Automation Distributors

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