Rising consumer demand for fuels from an expanded refinery and retail chain as the Covid-19 pandemic faded helped propel sharply improved financial performance by Cenovus Energy Inc. in the first six months of this year.

The Calgary firm’s downstream chain of 1,073 service stations and five U.S. refineries – two in Ohio and one each in Wisconsin, Illinois and Texas – registered market growth resulting from the easing of Covid-19 restrictions.

“Rebounding crude oil global demand amid roll out efforts of the COVID-19 vaccines, economic recoveries, and declines in crude oil inventories drove improved commodity markets,” Cenovus said.

The average price fetched by Cenovus oilsands bitumen tripled to C$56.71/bbl ($45.37/bbl) in first-half 2021 from C$17.67/bbl...