China continued to boost its crude oil inventories in the first two months of the year as strong imports and domestic output exceeded an increase in refinery production. China's surplus of crude oil was 1.24 million barrels per day (bpd) in the January-February period, according to calculations based on official data. The extra crude was down from a record high of 2.67 million bpd in December, but was still higher than the average of 1.13 million bpd for the whole of 2025. China does [Read more]
News
Highwood Asset Management Ltd. announces fourth quarter and full-year 2025 results, 2025 year-end reserves and operational update
/NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/ CALGARY, AB, March 17, 2026 /CNW/ - Highwood Asset Management Ltd. ("Highwood" or the "Company") (TSXV: HAM) is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2025 and to provide the results of its independent oil and gas reserves evaluation as of December 31, 2025, prepared by GLJ Ltd. ("GLJ"). The Company also announces that its audited consolidated financial [Read more]
Oil tankers ‘starting to dribble through’ Strait of Hormuz, says White House
Oil tankers are crossing the Strait of Hormuz and Iran's actions to choke traffic through the shipping route have not hurt the U.S. economy, White House economic adviser Kevin Hassett told CNBC on Tuesday, reiterating the Trump administration's position that the war should be over in weeks, not months. "Already you're seeing tankers are starting to dribble through the straits, and I think it's a sign of how little Iran has left," he said. "We're very optimistic that this is going to be [Read more]
Iran’s $200 oil threat isn’t that far-fetched: Bousso
Iran’s threat to send oil prices to $200 a barrel may sound like bombast, but as the energy crisis drags on, that outcome looks more likely than U.S. President Donald Trump’s prediction that prices will soon fall back to pre-war levels. Now in its third week, the joint Israeli-U.S. war against Iran – which has escalated into a regional conflict – has elicited a surprisingly muted reaction from global oil benchmarks. Brent crude now trades near $100 a barrel, about 65% above its level at the [Read more]
Asia pivots to coal as Middle East conflict chokes LNG supply
Asian utilities are boosting coal-fired power generation to cut costs and safeguard energy supply, industry officials say, as the U.S.-Israeli war on Iran chokes liquefied natural gas (LNG) shipments and soaring prices threaten to suppress LNG demand. Asia spot LNG prices have doubled to three-year highs in the second major supply shock in four years, as shipping through the Strait of Hormuz has all but stopped and No.2 global exporter Qatar has halted shipments. In South Asia, Bangladesh [Read more]
Iraq in talks with Iran to safeguard oil tanker traffic through Hormuz
Iraq's oil minister said Baghdad is talking to Iran about allowing some of the country's oil tankers to pass through the Strait of Hormuz, the state news agency reported on Tuesday, as Iraq seeks to ease disruptions to crude exports following recent attacks on tankers in its own waters. Iraq is also working to restore a disused pipeline that would allow oil to be pumped directly to Turkey's Ceyhan port without passing through the Kurdistan region, Oil Minister Hayan Abdel-Ghani said in a [Read more]
Consumers set to pay the price as soaring fuel costs hit shipping industry: experts
MONTREAL - Rising fuel prices caused by the war in Iran have begun to raise costs for Canadian shippers and ripple out to consumers, as fallout from the fighting filters into the broader economy. The price of heavy fuel oil — used to power container ships and other large vessels — at the world’s top 20 refuelling hubs has nearly doubled since the U.S. and Israel launched attacks in late February, according to figures from data platform Ship & Bunker. Container shipping rates have [Read more]
SECURE announces quarterly dividend and timing of 2026 first quarter results and conference call
CALGARY, AB, March 16, 2026 /CNW/ - SECURE Waste Infrastructure Corp. ("SECURE" or the "Corporation"), a leading waste management and energy infrastructure company, is pleased to announce that its Board of Directors has declared a quarterly dividend of $0.105 per common share payable on or about April 15, 2026, to shareholders of record on April 1, 2026. The declared dividend reflects the previously announced 5% increase to SECURE's quarterly dividend, raising the rate from [Read more]
US average diesel prices cross $5 a gallon as Middle East War tests global economy
U.S. average retail diesel prices crossed $5 a gallon for only the second time ever on Monday as the war in the Middle East squeezes supplies of the industrial fuel, according to fuel markets tracker GasBuddy. Economists have warned that surging diesel prices could slow global economic activity as the fuel is used in manufacturing and freight, and higher costs to make and move goods are passed on to consumers. Fuel price inflation could also pose a major risk to U.S. President Donald Trump as [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 Monday. WCS for April delivery in Hardisty, Alberta, settled at $13.75 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $13.20 on Friday. * The war in Iran has disrupted global supply of medium and heavy sour barrels, contributing to tighter spreads for heavy crude this month as well as higher outright pricing. * If Middle East supply [Read more]
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