Imperial Oil's profits fall short of expectations due to losses from refinery disruptions

The share price of this company, headquartered in Calgary, Alberta—a major oil hub—fell by 4%. Most of the company’s shares are held by the American oil and gas giant ExxonMobil. Geopolitical tensions in the Middle East have tightened global oil supplies and driven up fuel prices, but these gains have not been sufficient to offset weak realized prices and declining sales in the downstream business. Expand