Oil prices rose for a second day on Friday, set for their third weekly gain, on uncertainty about the future of supply from Venezuela and as Iranian unrest increases concerns about output there. Brent futures rose 40 cents, or 0.7%, to $62.39 per barrel at 0400 GMT, while U.S. West Texas Intermediate (WTI) crude gained 35 cents, or 0.6%, to $58.11. Both benchmark prices climbed more than 3% on Thursday, following two straight days of declines, and Brent is set to climb 2.7% for the week, [Read more]
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Trump says oil companies will spend at least $100 billion in Venezuela
U.S. President Donald Trump said on Thursday that oil companies will spend at least $100 billion in Venezuela. Trump made his comments to Fox News' "Hannity" ahead of a meeting with oil executives on Friday. (Reporting by Jasper Ward in Washington; Editing by Caitlin Webber) [Read more]
Frenetic 2026 military posturing sets tone for dangerous new era: Peter Apps
As he doubled down on suggestions the Trump administration might look to seize control of Greenland from Denmark in an interview on CNN on Monday, White House deputy chief of staff Stephen Miller made it clear he believed that in any contest of diplomatic will or military might, the U.S. would prevail. “We live in a world...that is governed by force, that is governed by power,” Miller said, making it explicit that America was too powerful and Europe too weak to resist what the U.S. might [Read more]
Chevron, Vitol, Trafigura vie to control Venezuelan oil exports, sources say
Oil major Chevron Corp, global trading houses Vitol and Trafigura, and other firms are competing for U.S. government deals to export crude oil from Venezuela, according to sources familiar with the matter. The competition reflects a desire by many in the oil industry to access the South American country's crude stocks and production, with U.S. officials seeking to control Venezuelan oil sales indefinitely. U.S. President Donald Trump has demanded that Venezuela give the United States full [Read more]
Enbridge Inc. to Host Webcast to Discuss 2025 Fourth Quarter Results on February 13
CALGARY, AB, Jan. 8, 2026 /CNW/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) will host a conference call and webcast on February 13, 2026, at 7 a.m. MT (9 a.m. ET) to provide a business update and review 2025 fourth quarter results. The conference call format will include prepared remarks from the executive team, followed by a question-and-answer session for the analyst and investor community only. Enbridge's media and investor relations teams will be available [Read more]
Discount on Western Canada Select hits $15 as Venezuela concerns continue
The discount on Western Canada Select to North American benchmark West Texas Intermediate futures widened again on Thursday for its third straight trading session, as developments in Venezuela continue to rattle crude markets. WCS for February delivery in Hardisty, Alberta, settled at $15 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $14.45 on Wednesday. Thursday's settlement marks the steepest discount Canadian heavy crude has traded at since July 2024, [Read more]
US Gulf refineries ready to run Venezuelan crude
Refineries along the U.S. Gulf Coast from Corpus Christi, Texas to Pascagoula, Mississippi are configured to run the heavy sour, corrosive crude oil produced by Venezuela that President Donald Trump plans to sell in the U.S., following the capture last weekend of Nicolas Maduro. Beginning in the 1990s, refiners reconfigured their plants with increased coking capacity and upgraded steel to be able to process growing supply from producers of dense, high-sulfur crude, like Venezuela, Mexico and [Read more]
US Senate votes to advance measure curbing Trump’s Venezuela war powers
The U.S. Senate advanced a resolution on Thursday that would bar President Donald Trump from taking further military action against Venezuela without congressional authorization, paving the way for further consideration in the 100-member chamber. The vote on a procedural measure to advance the war powers resolution was 52 to 47, as a handful of Trump's fellow Republicans voted with every Democrat in favor of moving ahead. The vote came days after U.S. forces captured Venezuelan President [Read more]
US, China can balance roles in Venezuela, US energy chief says
U.S. Energy Secretary Chris Wright said there was room to balance roles for both the United States and China in Venezuela to allow for commerce but that Washington would not allow Beijing to have major control over the Latin American country. In an interview on Fox Business Network, Wright also said he expected see Chevron quickly grow its activities in Venezuela with ConocoPhillips and Exxon Mobil also looking to play a constructive role. "I think you will probably see some long-term [Read more]
The Lease You’ll Lose Won’t Be the One You’re Watching – Introducing StackDX Mineral Expiries Workflows
The safer and smarter way to manage mineral expiries You’re well aware that losing a lease tied to a planned well means losing potentially millions in capital, especially if it’s in a producing play. You’re also well aware that every mineral expiry triggers a domino effect of deadlines, reviews, and decisions, and that somewhere in your portfolio, the clock is always ticking. Expiries rarely go wrong solely because someone forgot to check the spreadsheet. They get missed because the [Read more]
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