The majority of ships that have sailed through the Strait of Hormuz in the past day were linked to Iran, ship tracking data showed on Friday, with other vessels putting off making voyages despite a two-week ceasefire agreed this week between Tehran and Washington, according to data and shipping sources. Three tankers – a crude supertanker that can carry 2 million barrels of oil, a bunkering tanker and smaller oil ship – all left Iranian waters in the past 24 hours, based on separate data [Read more]
News
Trump warns Iran on Hormuz tolls as energy crunch prompts Japan to release more oil
U.S. President Donald Trump warned Tehran not to charge tolls on ships crossing the Strait of Hormuz, as a mounting global energy crisis prompted Japan on Friday to announce a further emergency oil release. The Iran war has damaged Gulf energy production, stranded tanker traffic, and boosted oil prices by about 50% in the world's worst energy shock, with Asian buyers among the hardest hit. "There are reports that Iran is charging fees to tankers going through the Hormuz Strait," Trump [Read more]
Diesel prices could remain high for months — and hit consumers harder than gas costs
MONTREAL - High diesel prices continue to ripple through the economy and put pressure on consumers even as a shaky ceasefire in the Middle East offers a hint of relief to global commodities. The average wholesale price of diesel remained more than 55 per cent above pre-war levels in recent days, according to Natural Resources Canada data, despite the U.S. announcement of a two-week pause in hostilities with Iran on Tuesday. While diesel prices are expected to ease somewhat following the [Read more]
ConocoPhillips visits Venezuela to evaluate oil opportunities
ConocoPhillips said on Thursday it is sending a small evaluation team to Venezuela this week to evaluate oil and gas opportunities. The U.S. oil producer left the South American country in 2007 after its assets there were nationalized. The company is owed about $12 billion with interest following arbitration awards stemming from the expropriations. ConocoPhillips said it will evaluate potential new Venezuela investments as it works to collect what it is owed. U.S. President Donald Trump [Read more]
Discount on Western Canada Select widens
The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened on Thursday. WCS for May delivery in Hardisty, Alberta, settled at $15.55 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $14.90 on Wednesday. * The WCS differential has been volatile since the start of the U.S. war on Iran. Early on, disruptions in global supplies of heavy crude led to a narrowing in the discount. * But Wood Mackenzie [Read more]
Trump says Iran should not charge fees to tankers going through Strait of Hormuz
President Donald Trump said on Thursday Iran should not charge fees to tankers going through the Strait of Hormuz, which has been blockaded since the start of the Iran war, causing the worst disruption to global energy supplies in history. "There are reports that Iran is charging fees to tankers going through the Hormuz Strait," Trump wrote on Truth Social. "They better not be and, if they are, they better stop now." Media reports have suggested Iran might want to charge a toll for [Read more]
US solicits proposals for 30 million barrels of SPR oil
The Trump administration said on Thursday that it was offering to loan up to 30 million barrels of crude oil from the West Hackberry Strategic Petroleum Reserve site, marking the third solicitation of proposals from oil companies since fuel prices spiked due to the U.S.-Israeli war on Iran. Companies can submit proposals to exchange oil from the SPR until 11 a.m. Central Time (1600 GMT) on April 13, according to a document posted to the Energy Department's website. The United States is [Read more]
Ovintiv Announces Closing of Anadarko Asset Sale
DENVER, April 9, 2026 /PRNewswire/ - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) ("Ovintiv" or the "Company") today closed the previously announced all cash sale of its Anadarko assets, located in Oklahoma, for $3.0 billion. After customary closing adjustments, proceeds from the sale are expected to total approximately $2.85 billion. "The Anadarko sale completes the transformation of our portfolio and our balance sheet," said Ovintiv President and CEO, Brendan McCracken. "Proceeds from the sale will [Read more]
Shell seeks to begin gas output at massive Venezuela-Trinidad Loran Manatee field next year
Energy producer Shell plans to begin natural gas output in 2027 from the Loran-Manatee offshore field, which crosses the border of Venezuela and Trinidad and Tobago the chairman of Trinidad's National Gas Company, Gerald Ramdeen, told Reuters on Thursday. Shell is moving to accelerate gas projects in Venezuela under interim President Delcy Rodriguez's administration, particularly those with Trinidad, which needs fresh gas supplies to feed liquefied natural gas and petrochemical [Read more]
Attacks cut Saudi oil output and East-West pipeline flow, state news agency says
Attacks on Saudi energy facilities have cut the kingdom's oil production capacity by around 600,000 barrels per day and the throughput on its East-West pipeline by about 700,000 bpd, Saudi state news agency SPA reported on Thursday, citing an official source at the energy ministry. The attacks, including previous strikes on some facilities, also disrupted operations at key oil, gas, refining, petrochemical and electricity sites in Riyadh, the Eastern Province and Yanbu Industrial City, SPA [Read more]
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