Oil majors are bracing for prolonged turbulence in energy markets, which should curb any temptation to ramp up spending after the Iran war. The biggest fear now is not missing the next rally, but being on the wrong side of the inevitable retreat. The Middle East conflict and the near-airtight closure of the Strait of Hormuz since February 28 have triggered an unprecedented oil and gas supply crunch, pushing crude prices above $100 a barrel and sparking a global search for alternative [Read more]
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Oil jumps as US and Iran disagree on peace proposal
Oil prices jumped $3 a barrel on Monday as the United States and Iran failed to agree to a peace proposal drafted by Washington while the Strait of Hormuz remained largely closed, keeping global energy supplies tight. Brent crude futures climbed $3.18 or 3.14% to $104.47 a barrel by 2336 GMT, extending a 1.23% gain on Friday. U.S. West Texas Intermediate was at $98.51 a barrel, up $3.09, or 3.24%, after settling 0.64% higher in the previous session. Hopes for an imminent end to the [Read more]
Aramco CEO warns 1 billion barrels lost will slow oil market recovery
The world has lost about 1 billion barrels of oil over the past two months and energy markets will take time to stabilise even if flows resume, Saudi Aramco’s CEO said on Sunday, as shipping disruptions choke traffic through the Strait of Hormuz. "Our objective is simple: keep energy flowing, even when the system is under strain," Amin Nasser told Reuters in a statement after Aramco reported a 25% jump in net profit in its first-quarter. Global energy supplies have been sharply squeezed by [Read more]
Putin says he thinks the Ukraine conflict is coming to an end
Russian President Vladimir Putin said on Saturday that he thought the Ukraine conflict was coming to an end. Russia's 2022 invasion of Ukraine triggered the most serious crisis in relations between Russia and the West since the 1962 Cuban Missile Crisis, when many people feared the world was on the brink of nuclear war. "I think that the matter is coming to an end," Putin told reporters of the Ukraine war. Putin was speaking in the Kremlin after Russia held its most scaled-back Victory [Read more]
UK deploys warship to Middle East with eye on potential Hormuz mission
Britain said on Saturday it was deploying its warship HMS Dragon to the Middle East in preparation for a potential multinational effort to protect shipping in the Strait of Hormuz once conditions allow. HMS Dragon, an air defence destroyer, was sent to the Eastern Mediterranean in March, shortly after the start of the Iran war, to help defend Cyprus. Its relocation to the Middle East follows a move by France to deploy its carrier strike group to the southern Red Sea, as the two countries work [Read more]
Pembina Pipeline Reports Voting Results from 2026 Annual Meeting of Shareholders
CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) reported the voting results from its annual meeting of shareholders held virtually on May 8, 2026 (the "Meeting"). Each of the matters voted upon at the Meeting is discussed in detail in the Company's Management Information Circular dated March 19, 2026 (the "Information Circular"), which is available on SEDAR+ at www.sedarplus.ca, on EDGAR at www.sec.gov, and on the Company's [Read more]
US, Iran no closer to ending war as Gulf clashes flare
The U.S. and Iran appeared no closer on Saturday to finding an end to their war after the two sides traded fire in the Gulf amid a tenuous ceasefire, while a U.S. intelligence analysis concluded Tehran could withstand a naval blockade for months. Recent days have seen the biggest flare-ups in fighting in and around the Strait of Hormuz since a ceasefire began a month ago, and the United Arab Emirates came under renewed attack on Friday. Washington has been awaiting Tehran's response to a U.S. [Read more]
Gran Tierra Energy Announces Final Voting Results of its Annual Meeting of Stockholders
CALGARY, Alberta, May 08, 2026 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced the voting results from the Company’s annual meeting of stockholders held on May 8, 2026. Final Voting Results of Gran Tierra’s Annual Meeting of Stockholders: Stockholders elected all five individuals nominated by Gran Tierra. In addition, stockholders voted “FOR” the ratification of the appointment of KPMG LLP as Gran Tierra’s [Read more]
Cavvy Energy Announces Voting Results from Annual Meeting of Shareholders
Not For Distribution to United States News Wire Services or Dissemination in United States CALGARY, Alberta, May 08, 2026 (GLOBE NEWSWIRE) -- Cavvy Energy Ltd. (“Cavvy” or the “Company”) (TSX:CVVY) today announced the voting results from its Annual Meeting of Shareholders (the “Meeting”) held on May 8, 2026. Each of the matters voted upon at the Meeting is described below and additional information on such matters is set out in the 2026 Notice of Annual Meeting of Shareholders and Management [Read more]
Discount on Western Canada Select unchanged
The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures was unchanged on Friday. WCS for June delivery in Hardisty, Alberta, settled at $15.80 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, flat on Thursday's close. * While the discount has narrowed since the start of the month, the differential for heavy Canadian crude remains wider than it was at the beginning of the U.S. war on Iran. * The WCS differential has been [Read more]
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