News

Oil prices climbed on Thursday after Iraqi security officials said Iranian explosive-laden boats had hit two fuel oil tankers amid other global supply disruptions from the U.S.-Israeli war on Iran. Brent futures rose $5.69, or 6.19%, to $97.67 a barrel at 0118 GMT, and U.S. West Texas Intermediate (WTI) crude was up $5.11, or 5.86%, to $92.36. Two foreign tankers carrying Iraqi fuel oil were hit by unidentified attackers in Iraq's territorial waters, causing them to catch fire, the director [Read more]

The United States and Iran have signaled no quick end to their war, with U.S. President Donald Trump saying it was necessary to finish the job and Iran warning that the world should be ready for oil at $200 a barrel after striking tankers in Iraqi waters and other ships near the vital Strait of Hormuz. The war unleashed with joint U.S. and Israeli air strikes nearly two weeks ago has so far killed around 2,000 people, mostly Iranians and Lebanese, as it has spread into Lebanon and thrown global [Read more]

The International Energy Agency’s plan to release 400 million barrels of oil reserves is unprecedented in scale and desperately needed to blunt the devastating supply shock triggered by the Iran war. But it will offer only limited relief as long as energy exports from the Middle East remain blocked. The IEA said on Wednesday that its 32 member countries unanimously agreed to move forward with the biggest collective drawdown ever from their strategic petroleum reserves (SPR). The release is [Read more]

OTTAWA, ON, March 11, 2026 /CNW/ -  As a major energy producer and exporter, Canada is well positioned to help support energy stability during a period of heightened volatility in global energy markets, linked to military actions in the Middle East and disruption in the Strait of Hormuz. The current situation reinforces the fact that our allies are looking for stable, reliable energy suppliers in an increasingly uncertain world. That means doubling down on what Canada can do to enhance [Read more]

U.S. companies face structurally higher oil prices this year even if the Iran war ends soon, meaning investors may need to rethink those sunny 2026 corporate earnings forecasts. Heading into the year, the consensus 2026 outlook for oil was fairly bearish, while the earnings forecasts for Wall Street were pretty optimistic. The latter hasn't changed. As of Friday, full-year 2026 earnings growth estimates, according to LSEG data, were nearly 16%, up from 14% last year and 12% the year [Read more]

The U.S. will release 172 million barrels of oil from its strategic petroleum reserve in a bid to reduce oil prices that have soared due to supply shocks from the U.S.-Israeli war on Iran, U.S. Energy Secretary Chris Wright said on Wednesday. Wright said the release is part of a broader release of 400 million barrels of oil agreed to by the 32-nation International Energy Agency earlier in the day. Wright said the release will begin next week and will take about 120 days to deliver. The [Read more]

Iranian crude oil has continued to flow through the Strait of Hormuz at a near-normal pace even as Tehran-linked attacks on ships in the narrow waterway have decimated exports from other Gulf countries, a Reuters review of tanker tracking data showed. Iran has exported about 13.7 million barrels of crude oil since Israel and the U.S. launched attacks on the country on February 28, according to analysis from TankerTrackers.com, a maritime intelligence company that specializes in tracking the [Read more]

CALGARY, Alberta, March 11, 2026 (GLOBE NEWSWIRE) -- Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) is pleased to announce that the Toronto Stock Exchange (the “TSX”) has accepted the Company’s Notice of Intention to renew its normal course issuer bid (“NCIB”). The NCIB allows Pulse to purchase up to 2,758,077 common shares (representing 10 percent of the public float of 27,580,778 common shares as at March 5, 2026). All shares will be purchased through the facilities of [Read more]