News

Oil prices have been a consistent disinflationary force for the U.S. and global economies since mid-2024. That may be about to change. Fueled by signs of a solid upturn in economic activity at the start of the year and bubbling U.S.-Iran tensions that could spark military conflict, Brent and West Texas Intermediate crude oil futures are the highest in nearly seven months. WTI rose above $67 a barrel on Friday and Brent topped $72, lifting their year-to-date gains to around 15% and nearly [Read more]

CALGARY, Alberta, Feb. 23, 2026 (GLOBE NEWSWIRE) -- Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT), announced today that it has submitted an acquisition proposal (the “Proposal”) to the Board of Directors (the “Frontera Board”) of Frontera Energy Corporation (TSX: FEC) to acquire all of Frontera’s Colombian upstream business in an all-cash offer for consideration of US$500 million, plus the assumption of debt, in addition to a contingent payment of US$25 million with terms that are [Read more]

Morgan Stanley raised its near-term Brent forecasts, saying that the geopolitical risk premium is likely to persist for a period, but added that it still expects prices to soften to $60 per barrel later this year. The bank now sees Brent at $62.5/bbl in the second quarter of this year, compared with $57.5/bbl previously. It also raised its third-quarter forecast to $60/bbl from $57.5/bbl earlier. (Reporting by Anjana Anil in Bengaluru, Editing by Louise Heavens) [Read more]

Goldman Sachs raised its Brent and West Texas Intermediate (WTI) crude forecasts for the fourth quarter of 2026 by $6 each to $60 and $56 respectively, on lower-than-expected OECD stocks, even as it maintained its view of a 2026 surplus. The bank now assumes 2026 global inventory builds in the Organisation for Economic Co-operation and Development countries' commercial stocks will only come to 19%, versus 27% previously, and it therefore expects a subset of the Organisation of Petroleum [Read more]