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Suncor Quarterly Profit Shrinks as Crude-Oil Price Falls

Suncor Energy Inc. said profit in the third quarter fell 46 percent as crude-oil prices sank to the lowest point in more than two years.

Net income fell to C$919 million ($821 million), or 63 cents a share, from C$1.69 billion, or C$1.13, a year earlier, the Calgary-based company said in a statement yesterday. The company cut its forecast oil prices this year by $3 a barrel for Brent, $2 for West Texas Intermediate and $1 for Western Canadian Select.