U.S. West Texas Intermediate crude prices fell on Thursday after the U.S. and Iran agreed to hold talks in Oman on Friday, despite differences about the agenda, amid heightened tensions as the U.S. builds up military forces in the Middle East. WTI fell 0.7 cents per barrel, or 1%, to $64.5 per barrel at 2347 GMT. Brent crude futures resume trading at 0100 GMT. Oil prices surged about 3% on Wednesday after a media report suggested the planned talks between the United States and Iran on [Read more]
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Japan-Qatar gas tie-up highlights global push for energy security: Bousso
Qatar's long-term deal to supply Japan's power giant JERA with liquefied natural gas highlights two key themes in the red-hot market for this super-chilled fuel: the race to gain market share and the global push for energy security. Qatar's national oil and gas company QatarEnergy on Tuesday signed a deal to supply JERA, Japan's largest power generator, with 3 million tons per year (mtpa) of LNG over 27 years, starting in 2028. For Qatar, the deal is a strategic win that will help ensure [Read more]
Discount on Western Canada Select widens
The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened on Wednesday to its highest point since the Venezuela situation began. WCS for March delivery in Hardisty, Alberta, settled at $15.15 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $14.80 a barrel on Tuesday. * The discount on Canadian heavy crude widened approximately $1 per barrel over the month of January in the wake of heightened [Read more]
Traders rush to lock in oil prices amid Iran geopolitical risk, more Venezuelan supply
Investors rushed to lock in oil prices at record levels in January amid concerns around Iranian crude supplies and more Venezuelan barrels heading to the U.S. Gulf Coast. Hedging can help producers reduce risk and protect their production from sharp moves in the market by locking in a price for the oil. It can also give traders opportunities to profit in times of volatility. Investors traded a record number of WTI Midland at Houston contracts, a price benchmark for exported U.S. crude, with [Read more]
Petrus Resources Announces Strategic Acquisition of Oil Weighted Deep Basin Assets and $10 Million LIFE Offering
CALGARY, Alberta, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Petrus Resources Ltd. ("Petrus" or the "Company") (TSX: PRQ) is pleased to announce that it has entered into a definitive agreement to acquire operated, oil-weighted Cardium light oil assets in the Harmattan area of central Alberta (the "Acquired Assets") from a third-party vendor (the "Vendor") for total consideration of approximately $33.4 million (the "Purchase Price"), subject to customary adjustments and the assumption by Petrus of certain [Read more]
US natural gas stockpiles likely fell by a record 374 billion cubic feet last week
U.S. energy firms likely pulled a bigger-than-usual 374 billion cubic feet of natural gas from storage last week as an Arctic freeze boosted heating demand, according to the average estimate in a Reuters poll released on Wednesday. That figure compares with a draw of 195 bcf during the same week a year ago, and a five-year average decline of 190 bcf for this time of year. If correct, last week's withdrawal would be the biggest on record, topping the current all-time high of 359 bcf in January [Read more]
‘Hell or high water’: Suncor delivers record Q4 output despite soggy weather
CALGARY - The chief executive of Suncor Energy Inc. says it delivered record production during the fourth quarter of 2025 despite mucky conditions in northeastern Alberta that caused problems for at least one of its oilsands peers. Total upstream production was 909,000 barrels of oil equivalent per day during the three months ended Dec. 31, up from 875,000 during the same period a year earlier. The result included 178,200 barrels per day from its Fort Hills mine north of Fort McMurray, Alta., [Read more]
Suncor to lay out plans for long-term bitumen supply this spring
Canadian oil sands producer Suncor Energy will present the market this spring with options it is considering for securing long-term bitumen supply, the company's chief executive said on Wednesday. The bitumen supply question will be one of the central themes of a new long-term vision the company plans to unveil at a March 31 investor day, Rich Kruger told analysts on a conference call. "We know it needs to be bold and ambitious, clear and compelling, to keep your interest and support," [Read more]
CNRL acquisition of Tourmaline’s Peace River High assets clears hurdles with Competition Bureau ruling and AER licence transfer application – StackDX Intel
Canadian Natural Resources cleared a big regulatory hurdle on January 27, 2026 with a ruling from Canada's Competition Bureau on its merger review involving certain assets from Tourmaline Oil Corp. The parties received an NAL (No Action Letter) from the Competition Bureau, essentially stating that the Bureau does not intend to challenge the transaction at this time. This step forward, along with public filing of AER licence transfer applications, puts the company one step closer to formally [Read more]
Norway’s Socialist Party backs down from threat to LNG electricity project
Norway's Socialist Party has withdrawn its support for a proposal to block Equinor's Hammerfest liquefied natural gas plant from receiving a planned onshore power connection, clearing the way for the grid development to proceed. Parliament is due on Thursday to vote on an opposition proposal seeking to revoke the LNG plant's planned link to the power grid, but the motion is likely to fail without backing from the Socialist Party. The government approved the connection in 2023 to cut [Read more]
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