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OTTAWA - Conservative Leader Pierre Poilievre laughed off a conspiracy theory about Justin Trudeau in the opening minutes of his 2.5-hour sit-down with podcaster Joe Rogan, where he made a case for Canadians being America's nice-guy neighbours. While talking about his early interest in politics, Poilievre mentioned that he read a biography of Fidel Castro. "Justin's dad!" Rogan interjected. The Conservative leader shook his head and laughed, "No, no, not Justin's dad," adding later that [Read more]

Removing oil sanctions on stranded Iranian oil would get supplies to Asia within three or four days, U.S. Energy Secretary Chris Wright said on Friday. Treasury Secretary Scott Bessent said on Thursday the U.S. may soon remove sanctions on Iranian oil stranded on tankers at sea, as Washington seeks to curb prices soaring over Iran's closure of the Strait of Hormuz. "Within days, within three or four days, that oil will start to arrive at ports," Wright said in an interview with Fox [Read more]

If you want to buy a cargo of oil in Asia or jet fuel in Europe right now, you may have to pay a record price for it. Surging oil prices in physical markets - the trading place for oil on ships, rail cars or in storage tanks - have outpaced the already dizzying increases in benchmark futures markets, as refiners and traders across Asia and Europe are snapping up whatever barrels they can secure to plug the enormous supply gap caused by the U.S.-Israeli war on Iran. That supply gap is [Read more]

The United States issued a new general license on Thursday to replace an earlier waiver for the sale of Russian-origin crude oil and petroleum products loaded on tankers as of March 12, according to the U.S. Treasury Department. The license, which expires on April 11, replaces and supersedes a similar 30-day sanctions waiver issued on March 12. While the main terms remain identical to those in the license issued earlier, Thursday's waiver specifically excludes transactions involving North [Read more]

TORONTO - National Bank and CIBC have committed to measuring how their fossil fuel financing compares with how much money they direct toward renewable energy, but not to making those numbers public. The measure, known as the energy supply ratio, is meant to provide a simple way to see how much banks are helping, or hindering, the push toward a low emissions economy. National Bank says in its latest proxy circular that, following discussions with advocacy group Share, the bank agreed to [Read more]

OTTAWA - Prime Minister Mark Carney has endorsed a statement from Canada and its allies expressing their willingness to contribute to efforts to reopen the Strait of Hormuz more than two weeks into the U.S.-Israeli war on Iran. The statement does not say how they propose to help, although Defence Minister David McGuinty says Canada is "considering" aiding Iran's neighbours if they seek assistance from the NATO alliance. In response to the U.S.-Israeli airstrikes launched on its territory [Read more]

  OTTAWA, ON, March 19, 2026 /CNW/ - We condemn in the strongest terms recent attacks by Iran on unarmed commercial vessels in the Gulf, attacks on civilian infrastructure including oil and gas installations, and the de facto closure of the Strait of Hormuz by Iranian forces. We express our deep concern about the escalating conflict. We call on Iran to cease immediately its threats, laying of mines, drone and missile attacks and other attempts to block the Strait to commercial [Read more]

Goldman Sachs said on Thursday that risks to oil prices remain skewed to the upside both in the near term and into 2027. The bank added that the persistence of several past large supply shocks highlights the possibility that oil prices could remain above $100 per barrel. Benchmark Brent crude surged above $119 a barrel on Thursday after Iran attacked energy facilities across the Middle East in response to Israel's strike on its South Pars gas field, marking a sharp escalation in a war that [Read more]