Headlines

Oil markets initially treated the Iran war as a brief bullish disruption in a long-term bearish trend. But traders are now betting that oil prices will remain elevated through 2028, forcing a rethink of the global inflation outlook. Eight months into the war, the buffers that helped absorb the initial energy shock – most notably onshore crude oil stockpiles – are wearing dangerously thin. At the same time, the recovery in crude exports through the Strait of Hormuz remains fragile, global [Read more]

Prolonged war in the Middle East and further disruptions to energy production, shipping routes or critical infrastructure pose the biggest risk to economies in the Middle East and Central Asia, the International Monetary Fund said on Thursday. Jihad Azour, the IMF's director for the Middle East and Central Asia, told reporters the war was imposing a highly uneven economic shock to the broader region, with directly affected states under severe pressure. "The outlook depends critically on [Read more]

Ukraine will resume strikes on Russian refineries, Ukrainian President Volodymyr Zelenskiy told the Financial Times in an interview published on Thursday. “The block (on attacking refineries) is out. We’re done,” Zelenskiy told the newspaper. He was critical of Washington’s eagerness to strike business deals with Moscow and US President Donald Trump’s apparent admiration for Russia’s Vladimir Putin, the FT report said. Trump on Saturday called for Ukraine to replace Zelenskiy and railed [Read more]

US Treasury Secretary Scott Bessent issued a long list of demands for the World Bank in line with Trump administration interests, including ending the bank's prohibition on financing upstream oil and gas projects, putting resources into deep-sea critical minerals mining and reforming its procurement policies. Bessent, in a statement issued late on Wednesday to the steering committees of the World Bank and International Monetary Fund, also said that the IMF should do more to push back on [Read more]

The Trump administration is considering easing sanctions on so-called shadow fleet vessels that have transported oil and petroleum products from countries including Russia, Iran and Venezuela, in an effort to reduce record-high global freight rates, a US official said on Wednesday. The discussions are happening days after President Donald Trump temporarily lifted sanctions on Russian diesel fuel, a move met with a torrent of criticism from Ukrainian President Volodymyr Zelenskiy, European [Read more]

Announcement - October 14, 2026 Alberta Energy Regulator Issues Suspension Order to Sumerian Oil & Gas Inc. The Alberta Energy Regulator (the AER) issued a suspension order on October 5, 2026, to Sumerian Oil & Gas Inc. (Sumerian) based on a failure to comply with requirements related to reasonable care and measures of Sumerian’s sites as detailed in previous Orders issued in April and September of this year, failure to comply with requirements resulting from two [Read more]

Oct 13, 2026 Premier Danielle Smith and Minister of Energy and Minerals Brian Jean issued the following statement on the groundbreaking of the Yellowhead Pipeline: “Today’s groundbreaking marks an important milestone for the Yellowhead Pipeline and another step toward securing Alberta’s economic prosperity and energy future. “This $2.9-billion project will add more than one billion cubic feet per day of natural gas transportation capacity, helping to ensure Alberta’s Industrial [Read more]