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Suncor Energy Up Nearly 5%, Despite Reports Of Possible Suncor-Related "Oily Muck" Near Colorado River

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Despite yesterday's reports of an oily muck seeping into a Colorado creek, that could have come from a Suncorp Energy (SU.TO) refinery, Suncor shares are up $1.41 (4.8%) late morning, probably boosted by higher oil prices, which hit a two week high above US$101.

Environmental Protection Agency officials were alerted Monday to an oily sheen on the surface of Sand Creek, which is located near a Suncor Energy refinery. Suncor crews worked through the night, setting up booms to to pool the material.

"It could be solvent. It could be from the cooling station. It could be anything. We will find out the source in time," said John Gallagher, Suncor vice president for refining told the news agency, UPI. "We are treating it as if it is ours. We don't know if it is ours."

Suncor shares opened at $30.50 this morning and reached a high of $31.16. 4.4 million shares have been traded so far.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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