Oil prices fell on Monday, settling at their lowest levels in over a week, after the U.S. abruptly suspended a campaign of air strikes against Iran over the weekend, raising hopes of a diplomatic solution that would allow shipping to resume in the Strait of Hormuz. Brent crude futures fell $8.42, or 8.7%, to settle at $88.36 a barrel, the lowest since July 17. U.S. West Texas Intermediate crude futures fell $6.70, or 7.5%, to close at $82.61, the lowest since July 16. Brent futures last week [Read more]
News
Gibson Energy Declares Dividend
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, July 27, 2026 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (TSX:GEI) (“Gibson”, or the “Company”) announced today that its Board of Directors has approved a quarterly dividend of $0.45 per common share, payable on October 16, 2026, to shareholders of record at the close of business on September 29, 2026. This dividend is designated as an eligible dividend for Canadian income tax purposes. For non-resident [Read more]
Gibson Energy Reports Second Quarter 2026 Results, Highlighted by Record Infrastructure Adjusted EBITDA and Strategic Growth Execution
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, July 27, 2026 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (TSX:GEI) ("Gibson" or the "Company") announced today its financial and operating results for the three and six months ended June 30, 2026. Key Highlights: Delivered record Infrastructure adjusted EBITDA(1) of $169 million, driven by higher throughput, improved utilization and continued optimization across the growing asset network [Read more]
US natural gas prices fall 4% to 11-week low on record output
U.S. natural gas futures slid about 4% to an 11-week low on Monday on record output, lower flows to liquefied natural gas export plants, and ample amounts of gas in storage. Front-month gas futures for August delivery on the New York Mercantile Exchange fell 10.4 cents, or 3.6%, to settle at $2.767 per million British thermal units. The contract fell to its lowest level since May 7 earlier in the session. That also pushed the contract into technically oversold territory for the first time [Read more]
Oil stocks in US Strategic Petroleum Reserve fall by 3.7 million barrels to lowest level since 1983
Stocks of crude oil in the U.S. Strategic Petroleum Reserve fell by about 3.7 million barrels to 307.7 million barrels last week, the lowest level since March 1983, according to data from the Department of Energy. The drawdowns are part of a U.S. agreement to release 172 million barrels from the facility. (Reporting by Arathy Somasekhar in Houston Editing by Nick Zieminski) [Read more]
Baker Hughes flags lower spending by oil and gas producers in 2026
Baker Hughes said on Monday it expects annual global spending by oil and gas producers to decline modestly this year, with growth in Latin America, offshore Africa, and North America land offset by lower spending in Europe and the Middle East. The Middle East conflict has dominated energy markets this year with repeated flare-ups in tensions between the U.S. and Iran forcing producers to take a more cautious stance instead of increasing drilling activity. "Customers remain focused on [Read more]
TD report predicts ‘meaningful’ GDP boost from West Coast pipeline
CALGARY - A report from TD Economics says a new oil pipeline to the West Coast would lift Canada and Alberta's gross domestic product, but perhaps not to the degree the provincial and federal governments are forecasting. The government analysis predicts a 0.6 per cent boost to the national economy by the 2040s and 3.5 per cent for Alberta's. The TD report says those numbers "may lean optimistic" as the governments look to advance the project's early-stage development. Using more [Read more]
Houthis say they targeted Saudi east-west oil transport
Yemen's Iran-aligned Houthis said on Monday they targeted a number of sensitive crude oil supply and transport sites linking eastern Saudi Arabia to the critical Red Sea oil export hub of Yanbu. Saudi state oil giant Aramco did not immediately respond to a request for comment. Houthi military spokesperson Yahya Saree said the operation was in response to what he described as Saudi drone incursions into Yemeni airspace. Saudi Arabia has re-routed its crude output to Yanbu via its [Read more]
Saudi Arabia says it destroyed drones launched by Iran-backed groups in Iraq
Saudi Arabia's air defences intercepted and destroyed drones launched from Iraq that attempted to target oil facilities in the kingdom's Eastern Province and Riyadh, the Saudi Defence Ministry said on Monday. The ministry said the drones were launched by Iran-backed armed groups in Iraq. Saudi Arabia's Foreign Ministry condemned the attack against the kingdom, reaffirming its right to respond to the sources of "the aggression" and deter those responsible. The ministry called on the Iraqi [Read more]
Crude oil futures are pricing market adaptability, not hopeful Iran peace: Russell
One of the debates since the start of the Iran war has been whether crude oil futures are accurately reflecting the stresses in physical markets for both oil and refined products, or if they are blindly optimistic that peace is around the corner. The Iran war between the United States and Iran continues along its volatile and unpredictable path, with renewed hope that a fresh pause in the mutual strikes is possible. That flicker of optimism was enough to lead global benchmark Brent futures [Read more]
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