The number of vessels passing through Bab el-Mandeb rose to 28 on Monday, a four-day high, while traffic through the Strait of Hormuz remained low, according to Kpler shipping data, amid optimism about a potential resolution to the U.S.-Iran conflict. Traffic was still below the month's peak of 46 vessels recorded on July 14, the data showed. U.S. President Donald Trump said on Monday that Washington's negotiations with Iran were progressing and could lead to a resolution, but warned that [Read more]
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Oman presented regional mechanism for Hormuz to Iran, source says
Oman has presented a proposal to Iran for a joint regional mechanism to manage the Strait of Hormuz with voluntary fees, a Gulf source told Reuters on Tuesday. Under the Omani proposal, which has regional backing, Iran would not exercise sole control of the vital waterway, the source added. The proposal is based on the Strait of Malacca, where those who use the strait voluntarily contribute to fund navigation, environmental protection and search and rescue. The U.S. abruptly suspended a [Read more]
Oil prices fall 1% as investors weigh pause in US strikes on Iran
Oil prices fell 1% on Tuesday as market participants continued to weigh a pause in U.S. strikes on Iran, which has raised hope of a diplomatic solution to their conflict and the normalisation of Middle East energy flows. Brent crude futures were down $0.54, or 0.6%, at $87.82 by 0046 GMT. U.S. West Texas Intermediate crude was at $81.95 a barrel, down $0.66, or 0.8%. Both contracts fell 1% earlier in the session to their lowest level in more than a week. U.S. President Donald Trump said [Read more]
Topaz announces second quarter 2026 financial results, tuck-in acquisition and guidance increase
CALGARY, AB, July 27, 2026 /CNW/ -- Topaz Energy Corp. (TSX:TPZ) ("Topaz" or the "Company") is pleased to provide second quarter 2026 financial results. Select financial information is outlined below and should be read in conjunction with Topaz's interim condensed consolidated financial statements ("Financial Statements") and related management's discussion and analysis ("MD&A") as at and for the three and six months ended June 30, 2026, which are available on SEDAR+ at www.sedarplus.ca and [Read more]
Oil prices settle at lowest in over a week, as US pauses attacks on Iran
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]
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]
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