(Updates throughout with quote from order, background) By Kanishka Singh and Jasper Ward WASHINGTON, Oct 16 - US President Donald Trump said on Friday that he is waiving many sanctions, restrictions and duties days before they were to take effect under a bill that he signed into law last month. Trump's executive order comes as he has been warming toward Russia and publicly criticizing Ukrainian President Volodymyr Zelenskiy, including suggesting that Ukraine needs a new leader. The [Read more]
Headlines
Discount on Western Canada Select widens again
The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened again on Friday. WCS for November delivery in Hardisty, Alberta, settled at $27 a barrel below the US benchmark WTI, compared with $26.40 on Thursday, according to brokerage CalRock. The discount is now more than $15 wider than it was at this time last year. * The widening reflects a combination of growing Venezuelan imports into the US Gulf Coast, refinery disruptions, [Read more]
Saturn Oil & Gas Inc. Announces Release Date for Q3 2026 Results and Provides Conference Call / Webcast Details
Calgary, Alberta--(Newsfile Corp. - October 16, 2026) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) ("Saturn" or the "Company"), a light oil-weighted producer focused on unlocking value through the development of our assets in Saskatchewan and Alberta, confirms that the Company intends to report our Q3 2026 financial results on Wednesday, November 4, 2026, after market close. A conference call and webcast will be held on Thursday, November 5, 2026, at 8:00 am ABT (9:00 am EST) for [Read more]
US energy stocks gain as oil tops $100 on supply fears
** S&P 500 energy index up 1.8%, tracking higher oil prices ** Brent crude futures up 2.9% at $109.02 a barrel, after hitting its highest since September 14 ** US West Texas Intermediate crude rise 2.6% to $100.52 a barrel, crossing $100 for the first time since September 21 ** Prices gainmore than 3%, heading for weekly gains on continued uncertainty over Middle East supplies, and as investors kept assessing how much diesel Russia could supply to the global markets ** Energy [Read more]
US energy firms left the rig count unchanged this week, Baker Hughes says
US energy firms left the rig count unchanged this week with oil rigs down and natural gas and miscellaneous rigs up, energy services firm Baker Hughes said in its closely followed report on Friday. The total oil and gas rig count, an early indicator of future output, held steady at 603 in the week to October 16. Baker Hughes said that put the total rig count up 55 rigs, or 10% above this time last year. Baker Hughes said oil rigs fell by three to 459 this week, while gas rigs rose by [Read more]
Zelenskiy warns against normalising deals with Russia after Trump’s diesel accord
Ukraine's President Volodymyr Zelenskiy warned the world of looming risks from the diesel deal struck by President Donald Trump with Russia, saying it paves the way for further sanctions relief for an aggressor that shows no desire to end its war. Ukrainians struggling with a fifth year of Russian attacks on their power grid and other civilian infrastructure have said they are appalled by Trump's decision to open the US market for Russian diesel. They have also condemned his attempts to blame [Read more]
US solicits exchange of up to 17 million barrels of oil from strategic reserve
The United States has issued a request for proposal for an exchange of up to 17 million barrels of crude oil from the nation's Strategic Petroleum Reserve, the Department of Energy said on Friday. The exchange would be part of a global deal the US struck in Marchto try to control fuel prices impacted by the war on Iran. Washington agreed then to loan 172 million barrels of oil from the SPR as part of a wider deal with about 30 countries in the International Energy Agency to release 400 [Read more]
Dmitriev says Russian wealth fund will work with US on payment for diesel deal
The US Treasury has asked Russia's sovereign wealth fund to help solve payment issues relating to a deal between presidents Donald Trump and Vladimir Putin on the sale of Russian diesel, Putin's investment envoy Kirill Dmitriev said on Friday. Dmitriev said the Treasury had requested the Russian Direct Investment Fund, which he heads, to "facilitate payments and solve tactical issues". The RDIF "will work to ensure that all payments are efficient and reach their intended recipients", he [Read more]
Shell receives exemptive relief from Canadian securities regulatory authorities regarding future Canadian filings
CALGARY, AB, Oct. 16, 2026 /CNW/ -- Shell plc ("Shell" or the "Company") announced today that it has received exemptive relief from the applicable Canadian securities regulatory authorities regarding future filing requirements. Shell became a reporting issuer for Canadian securities law purposes by virtue of the acquisition of ARC Resources Ltd. in September 2026, which made the Company subject to Canadian continuous disclosure and other reporting obligations under applicable Canadian securities [Read more]
ExxonMobil signals $4.5 billion refining earnings boost as margins soar
ExxonMobil signaled on Friday that higher refining margins during the third quarter could boost its downstream profit by $4.5 billion compared with the previous three months. Refining margins have soared due to the ongoing Iran war, which has restricted energy exports through the Strait of Hormuz, as well as Ukrainian attacks on Russian refineries. The resulting higher fuel prices have created political risks for the administration of US President Donald Trump ahead of the midterm elections [Read more]
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