The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralysed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows. The U.S. submarine strike on the Iranian vessel came as U.S. President Donald Trump pledged to provide insurance and navy escorts to ships exporting oil and gas from the Middle East in a bid to contain soaring energy prices. At least 200 ships, [Read more]
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Gas giant QatarEnergy throttles LNG supply by declaring force majeure
QatarEnergy has declared force majeure on shipments of liquefied natural gas, it said in a statement on Wednesday, after attacks on its production facilities amid the U.S.-Israeli war on Iran. The state-owned company said on Monday it was halting production of LNG and associated products due to attacks on facilities in the Ras Laffan industrial city in Qatar. Qatar accounts for around a fifth of global LNG exports, all of which transit through the Strait of Hormuz, where shipping has [Read more]
US Treasury Secretary Bessent says oil market well supplied amid Iran war
U.S. Treasury Secretary Scott Bessent said on Wednesday that crude oil markets are well supplied amid the U.S.-Israeli war in Iran, and that the U.S. plans to make a series of additional announcements on the issue. "The crude markets are very well supplied. There are hundreds of millions of barrels on the water away from the Gulf. But more importantly, we have a series of announcements that we're going to be making," Bessent said in an interview with CNBC. Oil prices rose about 1% on [Read more]
Oil seen elevated as Hormuz risks intensify amid Iran conflict, analysts say
Oil prices are expected to remain elevated in the near term as traders weigh the risk of supply disruptions through the Strait of Hormuz, a chokepoint for more than 20% of global oil supply, amid the widening Middle East conflict. Israeli and U.S. strikes on Iranian targets have led to attacks across the Gulf, and Iranian state media reported an Islamic Revolutionary Guards Corp official as saying the waterway had been shut, warning that any vessel attempting to transit could come under [Read more]
ROK Resources Announces Termination of Arrangement Agreement
NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES REGINA, SK / ACCESS Newswire / March 4, 2026 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK)(OTCQB:ROKRF) announces that the previously announced plan of arrangement (the "Arrangement") and the go-private transaction (the "Transaction") between ROK, 17312539 Canada Inc. ( "539 Canada"), a wholly-owned subsidiary of Blue Alaska Oil Trading LLC ("Blue Alaska"), and 102220885 Saskatchewan Ltd. ("SpinCo"), [Read more]
Trump’s Hormuz shipping plan is too little, too late in race to avert energy shock: Bousso
U.S. President Donald Trump’s current plan to revive shipping through the Strait of Hormuz via financial guarantees and security assistance will require a Herculean international effort. Even if successful, it will likely offer only limited relief as time quickly runs out to avert the worst global economic fallout from the closure of this vital energy artery. Trump said on Tuesday he had ordered the U.S. International Development Finance Corporation to provide political risk insurance and [Read more]
Parex Resources Announces 2025 Full-Year Results, Reserves Per Share Growth, and Declaration of Q1 2026 Dividend
CALGARY, Alberta, March 04, 2026 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce its financial and operating results for the three- and twelve-month periods ended December 31, 2025, as well as the results of its independent reserves assessment as at December 31, 2025. Additionally, the Company declares its Q1 2026 regular dividend of C$0.385 per share and provides an operational update. All amounts herein are in United States dollars (“USD”) [Read more]
Iran intelligence operatives signalled openness to talks with CIA to end war, NYT reports
Operatives from Iran's Ministry of Intelligence signalled openness to the U.S. Central Intelligence Agency (CIA) to talks on ending the war, the New York Times reported on Wednesday, citing officials briefed on the matter. The offer was made through an unnamed country's spy agency, the NYT said, citing Middle Eastern officials and officials from a Western nation who spoke on condition of anonymity. The White House and the CIA did not immediately respond to a request for [Read more]
Saudi Aramco’s Ras Tanura struck again by unknown projectile, four sources say
Saudi Aramco's Ras Tanura, which houses its largest domestic refinery and a key crude export terminal, was struck again on Wednesday by an unknown projectile, four sources said, two days after a source said a drone attack on the complex shut the refinery. Initial indications show an attack on the Ras Tanura refinery was carried out by a drone and resulted in no damage, Saudi Arabia's defence ministry spokesman said, according to the state news agency. The agency also cited an energy ministry [Read more]
Asia LNG price surge opens arbitrage from West to replace Qatari supply
Asia's liquefied natural gas prices have jumped, opening up arbitrage opportunities for traders to ship cargoes from the Atlantic to the east to replace Qatari supply lost during the U.S.-Iran war, analysts said. Cargo diversions could intensify competition between the Atlantic and Pacific basins as the Middle East conflict curtails shipments and halts output from Qatar. Asian buyers take more than 80% of Qatar's LNG exports, according to data from analytics firm Kpler. "Global front [Read more]
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