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Iran says oil blockade will continue until attacks end, Trump threatens to escalate strikes

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Iran's Revolutionary Guards said on Tuesday they would not allow "one litre of oil" to be shipped from the Middle East if U.S. and Israeli attacks continue, prompting a warning from President Donald Trump that the U.S. would hit Iran much harder if it blocked exports from the vital energy-producing region. The heightened rhetoric did little to quell a sharp retreat in crude prices and a rally in global shares, which came after Trump expressed confidence in a swift end to hostilities even [Read more]

Trump says US is waiving certain oil-related sanctions to ensure supply

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President Donald Trump said on Monday that the United States is waiving certain oil-related sanctions as a way to ensure adequate oil supply and lower prices. At a news conference at his Doral golf club, Trump said oil prices have not spiked as much as he had feared. Trump said the United States is waiving certain oil-related sanctions to cut prices. "We have sanctions on some countries. We're going to take those sanctions off till the Strait (of Hormuz) is up," Trump said. He was [Read more]

Discount on Western Canada Select widens

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The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened on Monday as global oil prices continued to leap higher due to constrained Middle Eastern supply. WCS for April delivery in Hardisty, Alberta, settled at $12.65 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $12 on Friday. * The discount on heavy Canadian crude has widened by approximately $1 since the U.S.-Israeli war on Iran began. * [Read more]

Iran’s revolutionary guards say any Arab, European country that expels US, Israel envoys will be able to navigate Strait of Hormuz

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Iran's Revolutionary Guards said any Arab or European country that expels the ambassadors of Israel and the U.S. from its territory will have full authority and freedom to pass through the Strait of Hormuz, Iranian state media reported on Monday. The crisis ​in the ​Middle East has halted shipping ‌and ⁠energy exports through the vital Strait of ​Hormuz, which carries roughly a fifth of global oil and liquefied natural gas flows. Hundreds of ships ​remain anchored on both sides of the [Read more]

Cardinal Energy Ltd. Announces Monthly Dividend for March

Calgary, Alberta--(Newsfile Corp. - March 9, 2026) - Cardinal Energy Ltd. (TSX: CJ) ("Cardinal" or the "Company") confirms that our March dividend of $0.06 per common share will be paid on April 15, 2026 to shareholders of record on March 31, 2026. The Board of Directors of Cardinal has declared the dividend payable in cash. This dividend has been designated as an "eligible dividend" for Canadian income tax purposes. About Cardinal Energy Ltd. Cardinal is a Canadian oil and natural gas [Read more]

Kremlin: Putin, in a phone call with Trump, shares proposals to end Iran war quickly

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Russian President Vladimir Putin, in a telephone conversation on Monday with U.S. President Donald Trump, put forward proposals for a quick settlement of the conflict around Iran, Kremlin foreign policy aide Yuri Ushakov said. Ushakov, giving an account of the conversation to reporters, said the two leaders also discussed the conflict in Ukraine and noted that Russian gains should prompt Kyiv's negotiators to move towards a settlement. He described the entire discussion as "very [Read more]

Overseas trade propels Port of Vancouver to record cargo volumes

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MONTREAL - The Vancouver Fraser Port Authority says a record amount of cargo flowed through its terminals last year as shippers sought to grow overseas markets far from an increasingly protectionist United States. Freight volumes at the Port of Vancouver rose eight per cent to 170.4 million tonnes in 2025, according to the federal agency. The boost was driven by surging exports of grain, crude oil and potash as well as higher container and auto trade, all of which reached record [Read more]

How might Trump combat the spike in oil prices?

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U.S. President Donald Trump is expected to review as early as Monday a set of options to tame oil prices, which have soared to the highest level since 2022 because of the expanding U.S.-Israel war with Iran. It is uncertain how much of an impact U.S. policy changes could have on oil prices, and some options could trigger domestic and international opposition. The stakes are high. Soaring energy prices have sent stock markets lower, threatened broad economic damage and are a risk for [Read more]

Trump reviews options to curb energy prices as Iran strikes roil markets

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U.S. President Donald Trump is expected to review as early as Monday a set of options to tame oil prices, which have spiked to more than $100 a barrel due to the Iran war, according to two people familiar with the matter. The effort reflects White House worries that the surge in oil prices will hurt U.S. businesses and consumers ahead of the November midterm elections when Trump's fellow Republicans are hoping to retain control of Congress. U.S. officials in Washington have been discussing [Read more]