The European Union may be forced to scale back its flagship climate policies and geopolitical aims as the Iran war drives up energy prices - with lasting consequences for the bloc's energy strategy. The energy crunch sparked by the conflict, now in its fourth week, has rattled Europe, which is heavily dependent on imported oil and gas. Around 8% of its liquefied natural gas (LNG) comes from the Middle East through the all-important Strait of Hormuz, which remains mostly blocked. European [Read more]
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Small population, big infrastructure needs: Northern Canada facing power struggles
Representatives from all three Canadian territories say the need to improve their aging electricity grids has reached a critical level requiring billions of dollars from the federal government to update, and in some cases, keep the lights on. Yukon's energy minister says the need is "no longer theoretical" after a frigid week in December nearly required rolling blackouts in Whitehorse. Temperatures nearing -50 C saw demand hit 90 per cent of what could be generated, at a time outside of [Read more]
Price surge from Trans Mountain expansion highlights need for new pipelines: MEI
CALGARY - A new report says Canada's ability to sell oil in markets outside of the United States has paid off big time so far, underscoring the urgent need for more pipelines to coastal waters. Public policy think tank MEI says the average price-gap between light U.S. and heavy Alberta crude blends narrowed by 37.5 per cent between the 18-month leadup to the Trans Mountain pipeline expansion's completion in 2024 and the 18 months that followed. It says that resulted in a US$16.7-billion [Read more]
Barclays sees 13–14 million bpd oil supply loss from prolonged Hormuz disruption
Barclays said on Thursday that a prolonged closure of the Strait of Hormuz would likely lead to a 13-14 million barrels per day supply loss, noting that while the scale of the disruption is immense, so is the uncertainty around its duration. Exports from Yanbu and Fujairah have picked up in recent weeks and assuming no threat to shipments from these ports, the bank sees a supply disruption of that magnitude as likely in the event of a prolonged closure of the Strait. The International [Read more]
Iran oil shock sets US Treasury seismograph twitching: Mike Dolan
The Iran oil shock has upended rate forecasts and roiled U.S. Treasury markets - driving volatility to its highest in nearly a year and forcing selling that is taking a serious toll on liquidity. The risk is that the tremors spread further. One of the key attractions of the U.S. Treasury debt market is its sheer scale. At $30 trillion, it is deep enough for the world's biggest buyers and sellers to move in and out without shifting the price - a rare quality in any asset market. That [Read more]
ADNOC CEO calls any Iran curbs on Hormuz passage ‘economic terrorism’
Abu Dhabi state oil company ADNOC's CEO Sultan Al Jaber described any restriction of passage through the Strait of Hormuz by Iran as "economic terrorism". "When Iran holds Hormuz hostage, every nation pays the ransom, at the gas pump, at the grocery store, at the pharmacy," Al Jaber said in a speech in the U.S. on Wednesday. "No country can be allowed to destabilize the global economy in this way. Not now. Not ever." Al Jaber, during a meeting with U.S. Vice President JD Vance earlier [Read more]
Oil prices climb as investors reassess Middle East ceasefire prospects
Oil prices climbed on Thursday, recovering some of the previous day's losses as investors reexamined prospects for de-escalation in the Middle East as Iran said it was still reviewing a U.S. proposal to end the war, which has disrupted energy flows. Brent futures rose $1.13, or 1.1%, to $103.35 a barrel by 0051 GMT, while U.S. West Texas Intermediate crude futures were up $1.08, or 1.2%, at $91.40 a barrel. Both benchmarks slumped more than 2% on Wednesday. Despite reviewing the [Read more]
LNG Canada, Coastal GasLink sign pipeline deal, bringing projects closer to reality
VICTORIA - The companies behind the Coastal GasLink pipeline and the massive LNG Canada facility in Kitimat, B.C., have signed agreements that bring both of their second phases closer to reality. TC Energy says the agreement to establish a "comprehensive commercial framework" is an important milestone for advancing its Coastal GasLink Phase 2, while supporting LNG Canada's pathway to a final decision on its second stage. The LNG Canada expansion is on Prime Minister Mark Carney's list of [Read more]
Petrus Resources Announces Monthly Activity Update
CALGARY, Alberta, March 25, 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]
Pine Cliff Energy Ltd. Provides Operational Update and Declares Monthly Dividend for April 30, 2026
Calgary, Alberta--(Newsfile Corp. - March 25, 2026) - Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) ("Pine Cliff" or the "Company") is pleased to announce initial production results from its recently completed Glauconite well and the monthly dividend for April 2026. Operational Update Pine Cliff successfully drilled one gross (1.0 net) Glauconite well in the Central Alberta Caroline area in December 2025 that was completed and brought on production in the second half of February 2026. [Read more]
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