Headlines

Iran's Revolutionary Guards said on Saturday that an oil tanker had exploded and caught fire after hitting a naval mine while transiting the Strait of Hormuz, Iranian state media reported. The Guards did not specify the tanker's name or flag. (Reporting by Enas Alashray;) [Read more]

US President Donald Trump on Saturday called for new leadership in Ukraine, slamming Ukrainian President Volodymyr Zelenskiy and calling on Kyiv's leader to stop hitting Russian oil refineries. "He better damn well stop," Trump told reporters at the White House, one day after saying he had struck a deal allowing Russia to supply diesel to global markets. "I suggest they get a new leader who can make a deal," he said, referring to Zelenskiy. (Reporting by Susan Heavey and Steve Holland; [Read more]

The discount on Western Canada Select (WCS) crude oil to North American benchmark West Texas Intermediate futures widened on Friday. WCS for November delivery in Hardisty, Alberta, settled at $25.55 a barrel below the US benchmark WTI, according to brokerage CalRock, compared with $25.20 on Thursday. The discount remains more than $10 wider than it was at this point in last month's trading cycle and is wider than it has been since 2023. * The cost to transport oil on tankers globally has [Read more]

Russian President Vladimir Putin said on Friday that his country was ready to supply oil and oil products to the US and global markets, and that this would help the global economy as a whole, according to a statement published by the Kremlin. US President Donald Trump said earlier that Russia would immediately supply 300,000 tons of diesel fuel to global markets following a phone call with the Russian leader on Friday. Putin's statement, published by the Kremlin, said the two leaders also [Read more]

CALGARY - A survey published this week by ATB Cormark suggests more than three quarters of oilpatch companies are convinced the Pacific Link pipeline to British Columbia and the Pathways carbon storage project will go ahead. But they're much less certain about when shovels will hit the ground. The investment firm surveyed 22 energy services companies, 27 exploration and production companies and 42 institutional investors from Sept. 14 to Sept. 28. That was days before the [Read more]

US President Donald Trump has insisted on more deals and tie-ups between Mexican and US energy companies in a call with Mexican President Claudia Sheinbaum, the Financial Times reported on Friday. The leaders have also discussed a deal similar to the one signed last year with South Korea, in which Seoul agreed to buy $100 billion of US energy products and invest billions more in the US, the FT said, citing people familiar with the matter. A US official told the FT the leaders discussed the [Read more]

President Donald Trump will soon issue a directive to some of his department heads to find ways to control prices of diesel fuel which are near record highs in the weeks before the November 3 congressional elections that will determine control of Congress, three industry sources said on Friday. The directive, which could take the form of a presidential memo, will push officials to find ways to bypass local and state regulations blocking energy production and use the Cold War-era Defense [Read more]

The Columbus/Indigenous Peoples federal holiday on Monday, Oct. 12 will affect the release schedule of some major energy data to be issued during the Oct. 11 week. Below is the schedule for the release of U.S. petroleum, oil and natural gas supply and inventory for the week. WEEK OF OCT 11: AMERICAN PETROLEUM INSTITUTE - OIL API's weekly petroleum stocks report will be delayed to Wednesday, Oct. 14 at 4:30 p.m. EDT (2030 GMT). The report is normally released on Tuesday. ENERGY [Read more]