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President Donald Trump told CNBC in an interview on Tuesday that he did not want to extend a ceasefire with Iran, adding the U.S. was in a strong negotiating position and would end up with what he called a great deal. "I don't want to do that. We don't have that much time," Trump said when asked about the possibility of extending the ceasefire. Washington has expressed confidence that talks with Iran will go ahead in Pakistan, and a senior Iranian official said Tehran was considering [Read more]

Shipping traffic through the Strait of Hormuz remained broadly halted on Tuesday with only three ships passing the waterway in the past 24 hours, shipping data showed. A U.S. blockade of Iranian ports has infuriated Tehran, prompting it to maintain its own restrictions on the strait, which had been typically handling roughly one-fifth of the world's oil and liquefied natural gas supply. The Ean Spir products tanker sailed through Hormuz on Tuesday after previously calling at an Iraqi port, [Read more]

The U.S.-Israeli war with Iran has disrupted shipping through the Strait of Hormuz, the world's most important oil chokepoint, exposing the Middle East's limited alternatives for exporting its hydrocarbons. The International Energy Agency (IEA) called it the largest supply disruption on record, bigger than the oil shocks of the 1970s and the loss of Russian pipeline gas after Moscow's invasion of Ukraine combined. These are the existing and possible alternative oil and gas export bypasses [Read more]

An armada of crude oil and refined products tankers is heading to Asia from the United States, but even record-high exports from the world's top producer cannot come close to making up the losses from the war against Iran. U.S. crude exports are on track for their two strongest months ever in April and May, with shipments of 5.44 million barrels per day and 5.48 million bpd, respectively, according to data compiled by commodity analysts Kpler. This is up strongly from the 3.94 million bpd [Read more]

CALGARY, AB, CANADA – April 21, 2026 – Canadian Discovery Ltd. (CDL) is pleased to announce the upcoming release of the Geological Carbon Storage Atlas of Eastern Canada on April 28, 2026. Co-funded by Natural Resources Canada (NRCan), carbon removal project developer Deep Sky, and CDL, this project was led and delivered by CDL in collaboration with NRCan CanmetENERGY. The Atlas delivers a comprehensive regional assessment of carbon dioxide (CO₂) storage potential across Quebec and Atlantic [Read more]

Russia was forced to reduce oil output in April due to Ukrainian drone attacks on ports and refineries, as well as a halt to crude supplies via the only remaining Russian oil pipeline to Europe, according to five sources and Reuters calculations. In what could be the sharpest monthly decline to Russian output in the six years since the COVID pandemic, Russia may have cut production by about 300,000 to 400,000 barrels per day in April, from the average level seen in the first months of the [Read more]

The conflict between Iran and the United States and Israel is creating the worst energy crisis ever faced by the world, the head of the International Energy Agency (IEA) said on Tuesday. "This is indeed the biggest crisis in history," Birol told France Inter radio in an interview broadcast on Tuesday. "The crisis is already huge, if you combine the effects of the petrol crisis and the gas crisis with Russia," he added. The war in the Middle East has choked up maritime traffic in the [Read more]

Oil prices fell on Tuesday, reversing gains in the previous session, on expectations peace talks between the U.S. and Iran will take place this week and allow more supply to flow from the key Middle East producing region. Brent futures declined 95 cents, or 1%, at $94.53, as of 0003 GMT. U.S. West Texas Intermediate (WTI) crude futures for May fell$1.54, or 1.72%, to $88.07. The May contract expires on Tuesday and the more-active June contract was down $1.09, or 1.3%, at $86.37. Both [Read more]

EDMONTON - Alberta Premier Danielle Smith has signed a joint statement with South Korea to waive a three per cent tariff on crude exports from the oil-rich province. The Alberta government says the agreement will open up more market access for energy producers shipping bitumen from Canada. It says Alberta exported almost $400 million in crude oil to South Korea last year, but with tariffs removed, that number could grow to between $400 million and $1 billion annually. Smith has stated [Read more]