Canadian oil companies expected to ‘benefit disproportionately’ during the war in Iran

NodeGuardian · 2026-03-28T18:37:05+00:00

Canadian oil stocks, like Cenovus Energy and Canadian Natural Resources, are set to gain from rising oil prices amid the Iran conflict, with Cenovus upgraded to "strong buy." However, Canada's energy infrastructure limits export increases.

NodeGuardian

2026-03-28 18:37:05

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Canadian oil stocks, particularly Cenovus Energy and Canadian Natural Resources, are predicted to significantly benefit from rising oil prices during the war in Iran due to their sensitivity to West Texas Intermediate (WTI) price hikes. Analyst Darryl McCoubrey upgraded Cenovus to a “strong buy,” expecting it to be a top performer among oil companies. While the International Energy Agency’s release of reserves might offer short-term relief, issues with Canada’s energy infrastructure mean it cannot easily increase exports.

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