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The Trump administration on Wednesday will offer more than 81 million acres (32.8 million hectares) in the Gulf of Mexico to oil and gas drillers as part of an effort to boost domestic energy production with regular offshore lease sales. The sale is the second since the U.S.-Israeli war with Iran disrupted global crude flows and ​sent oil prices to four-year highs. It is the third of 30 mandated by U.S. President Donald Trump's tax cut and spending law passed in 2025. The Interior [Read more]

Global oil supply will fall by 4.3 million barrels per day, or around 4%, this year, the International Energy Agency said in its monthly oil market report on Wednesday, as renewed hostilities in the Middle East are set to plunge the world deeper into an oil-market deficit. The U.S.-Iran ceasefire broke down last month around a month after the parties signed a memorandum of understanding to end the war. Since then, tanker attacks in the Strait of Hormuz have resumed and the conflict spread as [Read more]

Oil prices rose on Wednesday as doubts about a U.S.-Iran peace deal and attacks on two ships fuelled concerns about disruptions to Middle East supplies, although industry data showed swelling inventories of U.S. crude. Brent futures were up 75 cents, or 0.84%, to $89.66 a barrel by 0553 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 72 cents, or 0.87%, to $83.92. Both contracts had risen more than $1 earlier in the session. That followed Tuesday's rises of more than $1 for the [Read more]

The tally of vessels tracked in the Strait of Hormuz fell to a one-week low of eight on Tuesday, shipping data showed, as owners avoided the key waterway amid continued hostilities in the Middle East. The United States and Yemen's Iran-aligned Houthis reported separate attacks as prospects appeared to dim for an end to the Iran war, with Tehran saying the strait would stay closed unless Washington accepted its conditions. Tuesday's tally of eight vessels fell below a 10-day average of [Read more]

Record Sulphur Revenues Contribute to a NOI Increase of 87% Year Over Year, $39 Million of Debt Repayment, and Improved Financial Guidance Not For Distribution to United States News Wire Services or Dissemination in United States CALGARY, Alberta, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Cavvy Energy Ltd. (“Cavvy” or the “Company”) (TSX:CVVY) is pleased to announce its second quarter 2026 financial and operating results. The Company produced 21,497 boe/d of hydrocarbons, 984 mt/d of sulphur, and [Read more]

CALGARY, AB, Aug. 11, 2026 /CNW/ -- Stampede Drilling Inc. ("Stampede" or the "Corporation") (TSXV: SDI) confirms that its drilling rig which has been undergoing upgrades for potential deployment to Greenland in support of Greenland Energy Company's (NASDAQ: GLND) ("Greenland Energy") drilling program in the Jameson Land Basin remains in Canada and has not arrived in Greenland. Inaccurate information has appeared on various social media platforms. Stampede further confirms that it [Read more]