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Morgan Stanley has lowered its Brent crude oil price forecast for the fourth quarter of this year by $15 per barrel to $80, after the U.S. and Iran signed a preliminary agreement to end the war in the Gulf. "From here, it likely takes several weeks for tanker flow to be restored; we see 50% of production back by September, and 80% by December, slightly faster than before," the bank said in a note late on Monday. Morgan Stanley joined other banks in lowering their oil price forecasts after [Read more]

Oil prices extended losses on Tuesday, as markets weighed prospects for resumption of supply through the key Strait of Hormuz against shaky physical market drivers and a lack of details from a preliminary deal to end the Iran war. By 0436 GMT, Brent crude futures fell 25 cents, or 0.3%, to $82.92 a barrel and U.S. West Texas Intermediate inched down 9 cents, or 0.1%, to $80.66 a barrel. On Monday, oil prices fell nearly 5% to their lowest close since March 4, after U.S. President Donald [Read more]

Goldman Sachs lowered its fourth-quarter Brent crude oil price forecast to $80 from $90 and cut its 2027 average estimate to $75 from $80, after the U.S. and Iran signed a preliminary agreement to reopen the Strait of Hormuz. Analysts at the investment bank said in a research note released late on Monday they now assume that Gulf exports normalise to pre-war levels by the end of July versus the end of August expected previously. Oil prices eased on Tuesday, having slipped nearly 5% to [Read more]

CALGARY, Alberta--(BUSINESS WIRE)--CES Energy Solutions Corp. (“CES” or the “Company”) (TSX: CEU) (OTC: CESDF) is pleased to announce the results of the matters to be voted on at the annual general and special meeting of shareholders held on June 15, 2026 (the “Meeting”). Based on the proxies received and on a ballot conducted at the Meeting, the following individuals, being the eight nominees listed in the management information circular of the Company dated May 7, 2026 (the “Circular”), were [Read more]

The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened on Monday. WCS for July delivery in Hardisty, Alberta, settled at $11.40 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared to $11.15 a barrel on Friday. * WCS is ending its monthly trading cycle with the differential nearly $4 tighter than it was in mid May. It has been on a narrowing trend this month, tightening by approximately $4 since [Read more]

Vice President JD Vance on Monday said the U.S.' memorandum of understanding with Iran was "a very general document" with specifics of the deal to be worked out during further negotiations. "The MOU...is about a page and half so it is a very general document," Vance said on CNN's The Lead with Jake Tapper. "On a number of issues, we are going to have to figure this stuff out during the technical negotiation phase." (Reporting by Christian Martinez) [Read more]