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Ship hit in Hormuz as millions march for ayatollah; Iran says no talks unless Trump halts threats

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A ship was hit in the Strait of Hormuz overnight and Iran said there would be no more peace talks unless Donald Trump halted his repeated threats to restart the war, as millions of Iranians vowed vengeance at funeral processions for their slain leader. Britain's UKMTO maritime security agency reported a tanker was struck by a projectile that caused a fire 8 nautical miles (14 km) off the coast of Oman, the first reported incident in the Strait of Hormuz since mourning ceremonies began last [Read more]

Shell raises guidance slightly for Q2 integrated gas production

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Shell raised its guidance slightly on Tuesday for its integrated gas production in the April-June quarter, though output is expected to be sharply lower than in the first quarter because of effects from the Middle East conflict. Trading results at Shell's chemicals and products unit, which includes the group's big oil trading desk, are expected to be in line with the previous quarter's strong performance, the group said in a quarterly trading update. Shell guided for its integrated gas output [Read more]

Shell second quarter 2026 update note

The following is an update to the second quarter 2026 outlook and gives an overview of our current expectations for the second quarter. Outlooks presented may vary from the actual second quarter 2026 results and are subject to finalisation of those results, which are scheduled to be published on July 30, 2026. Unless otherwise indicated, all outlook statements exclude identified items. See appendix for the definition of the non-GAAP measure used, the reconciliation from GAAP to non-GAAP and [Read more]

Oil prices gain as focus shifts to supply recovery and demand

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Oil prices edged higher on Tuesday, though gains were capped as traders looked beyond easing geopolitical tensions in the Middle East and turned their attention to supply increases and demand prospects. Brent crude futures gained 38 cents, or 0.5%, to $72.37 a barrel, while U.S. West Texas Intermediate crude rose 30 cents, or 0.4%, to $68.85 a barrel as of 0350 GMT, after settling down at around pre-Iran war levels on Monday. "The steps towards recovery in supply have eased the immediate [Read more]

Iran fires missiles at commercial ships in Strait of Hormuz, Axios reports

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Iran's Revolutionary Guards fired at least two missiles at commercial ships transiting through the Strait of Hormuz on Monday night, Axios reported, citing two U.S. officials. Two commercial ships suffered significant damage but had no casualties, the report said, citing a U.S. official. U.S. Central Command did not immediately respond to Reuters' request for comment. The United Kingdom Maritime Trade Operations agency (UKMTO) said early on Tuesday that a tanker was hit by an unknown [Read more]

Global LNG trade hit record in 2025, but Middle East conflict clouds outlook, IGU says

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Global liquefied natural gas trade hit a record last year as strong U.S. exports and rising European imports offset weaker Asian purchases, the International Gas Union said in a report on Wednesday. Conflict in the Middle East could lead to a contraction in 2026, however, it warned. "The conflict in the Gulf has damaged LNG infrastructure, clouded the outlook for the region's expansion projects, and exposed Asian buyers to flow uncertainty and higher prices," IGU President Andrea Stegher [Read more]

Discount on Western Canada Select unchanged

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The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures held steady on Monday. WCS for August delivery in Hardisty, Alberta, settled at $15.15 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, unchanged on Friday's close. * The discount is now trading at levels similar to May, having unwound most of the tightening that took place in June. * The surge in Strait of Hormuz exit flows and the ongoing weakness in [Read more]

Saturn Oil & Gas Inc. Announces Extension and Increase to Credit Facility

Calgary, Alberta--(Newsfile Corp. - July 6, 2026) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) ("Saturn" or the "Company"), a light oil-weighted producer focused on unlocking value through the development of our assets in Saskatchewan and Alberta, is pleased to announce that the Company has entered into a credit agreement amendment dated June 30, 2026 to amend our syndicated credit facility (the "Credit Facility"). The tenor of the Credit Facility has been amended from two years to [Read more]

Gibson Energy Confirms 2026 Second Quarter Earnings Release Date and Provides Conference Call & Webcast Details

CALGARY, Alberta, July 06, 2026 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (TSX:GEI) (“Gibson” or the “Company”) announced today that it expects to release its 2026 second quarter financial and operating results on Monday, July 27, 2026, after the close of North American markets. The 2026 second quarter management's discussion and analysis and unaudited consolidated financial statements will be available on the Company's website at www.gibsonenergy.com and on SEDAR+ at www.sedarplus.ca. Earnings [Read more]