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U.S. Vice President JD Vance said a negotiated settlement between Russia and Ukraine is unlikely to satisfy either side, and any peace deal will likely leave both Moscow and Kyiv "unhappy." He said the U.S. is aiming for a settlement both countries can accept. "It's not going to make anybody super happy. Both the Russians and the Ukrainians, probably, at the end of the day, are going to be unhappy with it," he said in a Fox News interview that aired Sunday. U.S. President Donald Trump said on [Read more]

The discount on Western Canada Select to the North American benchmark West Texas Intermediate futures widened on Friday. WCS for September delivery in Hardisty, Alberta, settled at $12.10 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $11.95 a barrel on Thursday. * The differential between Canadian heavy crude and the U.S. benchmark has trended wider. This is due to the return of more normal market conditions, analysts say, after the discount became [Read more]

The Canadian government said on Friday it will join some of its closest allies in lowering the price cap for Russian oil over its continued war in Ukraine, the country's finance department said in a statement on Friday. Canada will lower the price cap for seaborne Russian-origin crude oil to $47.60 from $60 per barrel, the statement said. The price cap move brings Canada in line with the European Union and the United Kingdom, who announced in July they would lower the cap as they target [Read more]

OTTAWA, ON, Aug. 8, 2025 /CNW/ - Canada is at a pivotal moment in history. Faced with global volatility, disrupted trade relationships and a changing environment, we must strengthen our economy while doing our part to lower greenhouse gas (GHG) emissions. Today, Yasir Naqvi, Member of Parliament for Ottawa Centre and Parliamentary Secretary to the Minister of International Trade and to the Secretary of State (International Development), on behalf of Minister Tim Hodgson, Minister of Energy and [Read more]

U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by one to 539 in the week to August 8. Baker Hughes said oil rigs rose by one to 411 this week, while gas rigs fell by one to 123, and miscellaneous rigs fell by one to five. In Texas, the biggest oil and gas-producing state, the rig count [Read more]

Washington and Moscow are aiming to reach a deal to halt the war in Ukraine that would lock in Russia's occupation of territory seized during its military invasion, Bloomberg News reported on Friday. U.S. and Russian officials are working towards an agreement on territories for a planned summit meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin as early as next week, the report said, citing people familiar with the matter. Reuters could not immediately [Read more]

CALGARY, Alberta, Aug. 08, 2025 (GLOBE NEWSWIRE) -- Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) announces its financial and operating results for the three and six months ended June 30, 2025. The following press release should be read in conjunction with the management’s discussion and analysis and interim consolidated financial statements and notes thereto as at June 30, 2025. Readers should also refer to the “Forward-looking statements” legal advisory and the section [Read more]