Oil markets are set for a muted price reaction when they open on Sunday after U.S. President Donald Trump's and Russian leader Vladimir Putin's meeting in Alaska, at which Trump said a fully-fledged peace deal was the aim for Ukraine rather than a ceasefire. Trump said he had agreed with Putin that negotiators should go straight to a peace settlement - not via a ceasefire, as Ukraine and European allies, until now with U.S. support, have been demanding. Trump said he would hold off imposing [Read more]

The discount on Western Canada Select to the North American benchmark West Texas Intermediate futures narrowed on Friday. WCS for September delivery in Hardisty, Alberta, settled at $11.60 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $11.75 a barrel on Thursday. * The differential between Canadian heavy crude and the U.S. benchmark has trended generally wider this month. * It is not unusual to see seasonal weakening in WCS pricing heading into [Read more]

Pemex, Mexico's national oil company, is preparing for the "big block" overhaul at its 312,500-barrel-per-day (bpd) Deer Park, Texas, refinery to begin in early October, people familiar with plant operations said on Friday. The refinery's 270,000-bpd DU-2 crude distillation unit (CDU), the larger of two at the refinery, will be shut for the planned overhaul that will last about 60 days, the sources said. A Pemex spokesperson did not immediately reply to a request for comment. DU-2 breaks down [Read more]

World markets are watching closely as U.S. President Donald Trump and Russia's Vladimir Putin meet in Alaska later on Friday to seal a possible ceasefire agreement in Ukraine. This was a conflict that sparked an energy shock, sent food prices soaring, battered European assets and cut Russia's economy off from much of the Western world. Details and the longevity of any agreement will be key. "The big issue will be, of course, that even if we get a ceasefire, how sustainable is that?," [Read more]

Expand Energy said on Thursday Mohit Singh, its chief financial officer since 2021, has left the natural gas producer, effective August 13. Singh departed due to a termination without cause and will pursue other interests, the company said. Expand Energy and Singh did not immediately respond to requests for comment. Insider Brittany Raiford has been appointed as interim CFO, the company said. Last month, the natural gas producer reported a second-quarter profit, compared with a [Read more]