Canadian oil and gas stocks climbed Monday as the country’s energy sector absorbed the news of Prime Minister Justin Trudeau’s resignation.
As of mid-afternoon, the energy sector led all others on the TSX in terms of gains, with the S&P/TSX capped energy index up nearly two percent.
Some energy investors and traders cheered Trudeau’s announcement on social media.
Canada’s oil and gas sector has had a rocky relationship with Trudeau’s government over the past decade.
The federal government under his leadership made a major investment in the sector through its purchase of the Trans Mountain pipeline in 2018, but it also introduced a number of policies that were seen by many as hostile to oil and gas development….