Headlines

The U.S. will release 172 million barrels of oil from its strategic petroleum reserve in a bid to reduce oil prices that have soared due to supply shocks from the U.S.-Israeli war on Iran, U.S. Energy Secretary Chris Wright said on Wednesday. Wright said the release is part of a broader release of 400 million barrels of oil agreed to by the 32-nation International Energy Agency earlier in the day. Wright said the release will begin next week and will take about 120 days to deliver. The [Read more]

Iranian crude oil has continued to flow through the Strait of Hormuz at a near-normal pace even as Tehran-linked attacks on ships in the narrow waterway have decimated exports from other Gulf countries, a Reuters review of tanker tracking data showed. Iran has exported about 13.7 million barrels of crude oil since Israel and the U.S. launched attacks on the country on February 28, according to analysis from TankerTrackers.com, a maritime intelligence company that specializes in tracking the [Read more]

CALGARY, Alberta, March 11, 2026 (GLOBE NEWSWIRE) -- Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) is pleased to announce that the Toronto Stock Exchange (the “TSX”) has accepted the Company’s Notice of Intention to renew its normal course issuer bid (“NCIB”). The NCIB allows Pulse to purchase up to 2,758,077 common shares (representing 10 percent of the public float of 27,580,778 common shares as at March 5, 2026). All shares will be purchased through the facilities of [Read more]

The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened on Wednesday as the International Energy Agency proposed a record release of oil reserves to try to rein in energy prices. WCS for April delivery in Hardisty, Alberta, settled at $13.15 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $12.75 on Tuesday. * Oil prices settled up nearly 5% on Wednesday as fresh attacks on ships in the Strait [Read more]

U.S. Interior Secretary Doug Burgum on Wednesday welcomed the International Energy Agency's move to release 400 million barrels of oil, but said only President Donald Trump could approve participation by Washington in such a move. Burgum, speaking to CNBC, also said U.S. oil companies would soon announce increased production amid price spikes triggered by the Iran conflict. "I think what you're hearing out of the IEA today is reasonable on their part, but clearly, whether the U.S. [Read more]

U.S. President Donald Trump plans to invoke emergency law for Sable Offshore as it looks to restart production from a cluster of offshore platforms in California, Bloomberg News reported on Wednesday, citing a person familiar with the matter. Shares of Sable rose 16.3% to $16.75 in afternoon trading. Trump is preparing to summon authorities under the Defense Production Act to preempt state laws and ease permitting for Sable, the report added. The planned order would also pave the way [Read more]