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Oil prices were little changed on Friday following sharp declines in the previous session, with prospects dimming for a near-term end to the U.S.-Israeli war with Iran after the Hezbollah militia rejected a new ceasefire in Lebanon. Brent crude futures fell 21 cents, or 0.22%, to $95.24 a barrel by 0003 GMT after settling down 2.84% in the previous session. U.S. West Texas Intermediate crude was at $92.94 a barrel, down 10 cents, or 0.11%, following a 3.1% loss on Thursday. Both [Read more]

CALGARY - Trans Mountain Corp. says oil shipments through its pipelines reached 83 per cent of capacity in the first quarter and is expected to rise to 90 per cent in the second quarter. The Calgary-based company that operates the pipeline from Alberta to the British Columbia coast says about 737,000 barrels of crude oil passed through the pipeline per day in the three-month period starting this year. That is down from the 757,000 barrels per day reported in the same quarter last year, but [Read more]

The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures narrowed on Thursday. WCS for July delivery in Hardisty, Alberta, settled at $12.10 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $12.40 a barrel on Wednesday. * The WCS differential has been volatile with WTI's swings since the start of the Iran conflict. * But the underlying demand for WCS barrels has remained strong, said RBN Energy [Read more]

Iranian exports of crude oil and condensate fell to their lowest level in at least six years in May, falling well below 300,000 barrels per day, mainly due to the U.S. naval blockade, according to shipping data and analysts. The U.S. began enforcing the blockade on April 13, choking Iranian exports as the oil market faces a supply crunch due to Iran's effective closure of the Strait of Hormuz cutting exports from Saudi Arabia, Kuwait, Iraq and the United Arab Emirates. Iran's exports averaged [Read more]

Electricity demand in Texas grew 9% in recent months, nearly five times the U.S. average, driven by the expansion of data centers and cryptominers in the Lone Star State, according to data released by Hitachi Energy on Thursday. * The Texas power grid saw the largest jump in both power demand and the addition of new power supplies of any of the country's grids in the six months ended in March 2026, the Hitachi Energy Grid Pulse report said. * "Load growth over the last six months has been [Read more]

The trickle of tankers exiting the Strait of Hormuz has gathered pace in recent weeks, as traders adopt stealth measures to make the crossing. While this is freeing some of the vast oil inventories trapped in the Gulf, it does not signal a slow return to normalcy. Instead, it previews the opaque, fragmented energy market the Iran war is set to leave in its wake. More than four months into the conflict, the U.S. and Iran are still struggling to hammer out an agreement to formally end the war [Read more]

Oil prices fell on Thursday as a ceasefire deal between Israel and Lebanon boosted hopes for a broader agreement to end the U.S.-Israeli war with Iran that could lead to a reopening of the Strait of Hormuz. Brent futures were down 87 cents, or 0.89%, at $96.92 a barrel by 0458 GMT, while U.S. West Texas Intermediate crude fell 78 cents, or 0.81%, to $95.24, paring gains from earlier in the week. Both Brent and WTI rose about 2% on Wednesday after renewed Middle East hostilities including [Read more]

CALGARY, Alberta, June 03, 2026 (GLOBE NEWSWIRE) -- PHX Energy" or the "Corporation") (TSX: PHX) announces that its Board of Directors (the "Board") has approved an increase to its 2026 capital expenditure program (the "Program") to $80 million, a $15 million increase from the previously announced Program. The increased investment is expected to be primarily directed towards expanding the Corporation's fleet of Rotary Steerable Systems ("RSS") in Canada and the United States, Atlas High [Read more]