Ship-to-ship transfers in the Gulf of Oman for Middle Eastern oil from inside the Strait of Hormuz have reached their limits after Saudi Arabia diverted exports from the Red Sea, adding to shipments from other producers, trade sources and analysts said. The increasing amount of Saudi exports this month requires more supertankers to shuttle crude through Hormuz to conduct cargo transfers, they said. That has reduced ship availability, raising shipping costs and increasing the time cargoes are [Read more]
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Oil jump sends 30-year yields to two-decade high
Bond markets came under renewed pressure on Thursday with US 30-year bond yields hitting a more than 20-year high as rising oil prices reignited concerns about higher inflation and more Federal Reserve interest rate hikes. Oil prices climbed about 3% to a one-week high after a Houthi missile attack on Saudi Arabia revived fears of supply disruptions, but trade was volatile and prices came off session highs after reports the US and Iran discussed reopening the Strait of Hormuz. The [Read more]
Petrus Resources Announces Monthly Activity Update
CALGARY, Alberta, Sept. 24, 2026 (GLOBE NEWSWIRE) -- Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to announce the most recent version of the Company’s monthly activity update can be found on the Company's website at https://www.petrusresources.com/monthlyupdates. ABOUT PETRUS Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions and risk-managed exploration in Alberta. FOR FURTHER INFORMATION PLEASE [Read more]
CAOEC welcomes Bill C-39 and proposed measures to get major projects built
The Canadian Association of Energy Contractors (CAOEC) welcomes the Government of Canada’s introduction of Bill C-39, the Building Canada Strong Act, and its commitment to creating a faster, more predictable regulatory environment for resource development in Canada. The Association is particularly encouraged by measures intended to reduce duplication and establish clearer accountability within the federal review process. “Our members have the resources, technology, and skilled workforce to [Read more]
Some 60 ships passed through Strait of Hormuz on Wednesday, US official says
Some 60 commercial vessels transited the Strait of Hormuz on Wednesday carrying the highest daily volume of crude oil since early July, despite the ongoing war between the US and Iran, a US official told Reuters, speaking on condition of anonymity. About 40 of those vessels coordinated with the US military for protection, the US official added. A total of about 22 million barrels of oil exited the maritime chokepoint. Reuters could not independently verify the US official's figures. The [Read more]
US energy secretary seeks refiners’ help amid narrow options to curb diesel price
US Energy Secretary Chris Wright has contacted executives at several major American refiners in recent days to gauge support for a voluntary restriction on diesel exports as the Trump administration searches for an alternative to a short-term ban, according to three people familiar with the discussions. The effort to enlist companies voluntarily underscores the limited options available to the White House amid surging fuel prices that are pushing inflation higher and beginning to ripple [Read more]
BP eyes Devon Energy asset amid renewed US M&A ambitions, sources say
BP is weighing a potential acquisition of Devon Energy's operations in South Texas as part of renewed efforts by the British supermajor to grow its shale asset base in the United States, people familiar with the matter said. After years of prioritizing investments in renewable energy and leadership churn that included five chief executives since 2020, the London-headquartered company has reverted to a strategy that places its traditional oil and gas business at its heart. In the wake of [Read more]
Kimmeridge Publishes New White Paper On Diverging Outlook for U.S. Oil and Natural Gas
"Shale's Golden Years, Part II: The Cost of Aging" finds U.S. oil reserve replacement continuing to weaken despite significant efficiency gains, while natural gas resources remain abundant NEW YORK, Sept. 24, 2026 /PRNewswire/ -- Kimmeridge, an alternative asset manager focused on the energy sector, today published "Shale's Golden Years, Part II: The Cost of Aging," a new white paper examining the growing divergence between the outlook for U.S. oil and natural gas. The paper follows [Read more]
US and Iran discuss phased deal to reopen Hormuz and end US blockade, sources say
US and Iranian negotiators in New York are exploring a phased path out of war that would involve Tehran reopening the Strait of Hormuz and Washington lifting its economic blockade of Iran, sources close to the talks said. The strait has become the central bargaining chip in efforts to end the nearly seven-month US-Iran conflict, with Iran seeking relief from the US blockade that is choking its economy and Washington seeking free passage for ships on the global oil supply route now blocked by [Read more]
Saudi Arabia thwarts Houthi ballistic missiles, Yemen’s Saudi-led coalition says
Saudi Arabia intercepted six ballistic missiles fired by Yemen's Iran-backed Houthis on Thursday, thwarting attacks on the southern province of Taif and Yanbu area on the Red Sea, the Saudi-led coalition in Yemen said. It was not clear whether there was any damage or casualties in either Taif and Yanbu, the main alternative route for Saudi oil, after a widespread emergency alert was issued for areas including Jeddah and the holy city of Mecca. The attack on Yanbu followed an improvement in [Read more]
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