Imperial Oil rises on higher Q1 profit

Shares of Canadian oil producer Imperial Oil IMO.TO up 1% at C$94.84

Company posts a rise in Q1 profit, helped by stronger refining margins and fuel sales business

Company reports net income in Q1 of C$1.29 billion($933.23 million) compared with C$1.2 billion, a year earlier

IMO reports petroleum product sales of 455,000 barrels per day, compared with 450,000 bpd a year ago

However, it reported a fall in its upstream production, total throughput volumes and refinery utilization rate

*"We recognize potential risks from U.S. tariffs on Canadian crude oil, though we believe President Trump is unlikely to reinstate them given the potential impact on U.S. consumer fuel prices," CFRA Research analyst Stewart Glickman

Including session's moves, shares are up 6.9% YTD

($1 = 1.3828 Canadian dollars)