The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened on Monday. WCS for May delivery in Hardisty, Alberta, settled at $16.25 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared to $15.55 on Friday. * The WCS differential has been volatile since the start of the U.S. war on Iran, with competing variables pulling and pushing on relative prices for Canadian heavy crude. * Historically, the [Read more]
Headlines
Peak oil price likely to come ‘in next few weeks,’ US Energy secretary says
Oil prices are likely to hit their peak "in the next few weeks" once ship traffic resumes through the Strait of Hormuz, U.S. Department of Energy Secretary Chris Wright said on Monday. Prices are expected to continue rising until "meaningful" ship traffic resumes through the strait, Wright told the Semafor World Economy Forum in Washington, despite previous comments he made that oil prices would likely come down soon. "We're going to see energy prices high - and maybe even rising - until [Read more]
Cardinal Energy Ltd. Announces Monthly Dividend for April
Calgary, Alberta--(Newsfile Corp. - April 13, 2026) - Cardinal Energy Ltd. (TSX: CJ) ("Cardinal" or the "Company") confirms that our April dividend of $0.06 per common share will be paid on May 15, 2026 to shareholders of record on April 30, 2026. The Board of Directors of Cardinal has declared the dividend payable in cash. This dividend has been designated as an "eligible dividend" for Canadian income tax purposes. About Cardinal Energy Ltd. Cardinal is a Canadian oil and natural gas [Read more]
IEA is ready to further tap global oil reserves if needed, chief says
The head of the International Energy Agency, Fatih Birol, said on Monday he hopes another oil stockpile release is not needed but "we stand ready to act" if the energy shock resulting from the war with Iran requires it. The 32-member IEA agreed last month to release 400 million barrels of oil from reserves, the largest coordinated release ever, in a bid to calm oil markets. The U.S., the world's largest oil and gas producer, agreed to release 172 million barrels from its Strategic Petroleum [Read more]
OPEC lowers second-quarter global oil demand forecast on Iran war
OPEC on Monday lowered its forecast for world oil demand in the second quarter by 500,000 barrels per day, citing the impact of the war in the Middle East, the producer group's monthly oil report showed on its website. Global oil demand is projected to average 105.07 million bpd in the second quarter, OPEC's report said, down from the 105.57 million bpd forecast in last month's report. "The demand growth for the second quarter of 2026 is revised down for both the OECD and non-OECD, driven [Read more]
NATO allies refuse to join Trump’s Strait of Hormuz blockade
The United States' NATO allies said on Monday they would not get involved in President Donald Trump's plan to blockade the Strait of Hormuz, further ratcheting up tensions within the increasingly fragile alliance. Trump said the U.S. military would work with other countries to block all maritime traffic in the waterway, after weekend talks failed to reach an agreement to end the six-week conflict with Iran. The U.S. military later specified that the blockade, due to start at 1400 GMT on Monday, [Read more]
Post-Combustion Carbon Capture Implications and Opportunities in Gas Fired Power Generation
Author: Clara Yuan (Process Engineer), Fluor Canada Ltd. Over the past several decades, implementing carbon capture technology as a form of emissions abatement has become an increasingly common consideration for many industries. This includes industries like power generation, which continue to rely on traditional fossil fuels based on the advantages they present over renewable energy (e.g., availability). There is significant growth expected in natural gas fired power generation as a [Read more]
Oil tops $100, safe-haven dollar gains as US moves to blockade Iran
Oil prices surged on Monday as the U.S. moved to impose a blockade on Iranian shipping after the collapse of weekend peace talks, while the dollar rose and stocks and bonds fell. The U.S. move, aimed at putting pressure on Tehran, leaves a fragile ceasefire hanging in the balance and no end in sight to the choke on Middle East energy exports - though the mood on trading floors leaned toward hoping for a resolution. Brent crude futures were up 7% at $102 a barrel, marking a gain of more [Read more]
Obsidian Energy Announces Operational Update
Robust Belly River and Cardium results in Willesden Green, with three additional wells expected on production in mid-April Continued progress on Clearwater waterflood initiatives with the Dawson pilot commissioned and both Nampa and West Dawson injector wells rig released Highest quality oil produced to date in Peace River on the West Dawson and Nampa pads Calgary, Alberta--(Newsfile Corp. - April 13, 2026) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the [Read more]
Iran’s Hormuz gamble ushers in a tense new normal for Gulf energy: Bousso
The Iran war and the closure of the Strait of Hormuz have shattered a status quo that prevailed among Middle East oil and gas producers for decades. Even if the current, shaky ceasefire holds, the uneasy “new normal” has likely set the stage for yet another round of conflict. Tehran has now demonstrated both its ability and willingness to seal off the critical waterway and strike vital infrastructure across the region, fundamentally altering the risk calculus for its neighbours and [Read more]
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