Oil prices fell on Tuesday, erasing most of the previous session's gains, after Iran and Israel said they had halted attacks on each other following an appeal from U.S. President Donald Trump, though both sides warned they could resume hostilities. Brent crude futures were down 91 cents, or 1%, at $93.34 a barrel at 0400 GMT, while U.S. West Texas Intermediate declined $1.13, or 1.2%, at $90.17 a barrel. Prices climbed as much as 5% in the previous session after renewed Israeli strikes on [Read more]
Headlines
Feds offer millions in loans to airlines as fuel costs soar. Some don’t want the cash
MONTREAL - The federal government on Monday offered a loan lifeline to airlines struggling to cope with the soaring price of jet fuel, garnering a mixed response from the country's carriers. The new program will let airlines borrow up to $150 million each, as fallout from the Iran war forces them to slash flight schedules and cut profit forecasts. Ballooning fuel costs have put severe pressure on airlines' balance sheets, said Finance Minister FranÇois-Philippe Champagne, who framed the [Read more]
Cardinal Energy Ltd. Announces Monthly Dividend for June
Calgary, Alberta--(Newsfile Corp. - June 8, 2026) - Cardinal Energy Ltd. (TSX: CJ) ("Cardinal" or the "Company") confirms that our June dividend of $0.06 per common share will be paid on July 15, 2026 to shareholders of record on June 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]
Discount on Western Canada Select narrows
The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures narrowed on Monday. WCS for July delivery in Hardisty, Alberta, settled at $12 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $12.15 a barrel on Friday. * The WCS differential has been volatile with global crude price swings since the start of the U.S.-Iran conflict. * But U.S. refinery demand is strong, as evidenced by refineries deferring [Read more]
Another European utility looks to lock down supply from Ksi Lisims LNG
Another European utility has expressed interest in purchasing liquefied natural gas from the Ksi Lisims project planned for the northern British Columbia coast. Duesseldorf-based Uniper and Ksi Lisims LNG say they have signed a letter of interest that could see the German company buy two million tonnes of gas a year, with deliveries beginning as early as 2032. The letter of interest outlines key commercial terms for a firmer supply and purchase agreement with Uniper, whose core markets are [Read more]
Germany deepens Canada energy ties with provisional LNG deal
German energy firm Uniper has signed a preliminary agreement to secure liquefied natural gas from a key project in Canada, a joint statement said on Monday, the latest sign of an intensifying energy partnership between the two countries. The deal to procure LNG from Canada's Ksi Lisims, a proposed export facility to be located on British Columbia's Pacific coast, comes hot on the heels of a similar deal by Uniper's German peer SEFE last month. * Uniper and Ksi Lisims LNG have signed a [Read more]
Why are the Houthis threatening to attack Red Sea shipping and what does it mean for oil markets?
June 8 - Yemen's Iran-aligned Houthis said on Monday that they would ban ships linked to Israel from the Red Sea after Israel renewed its military attacks on Iran, adding to concerns about global shipping and energy flows. This is why it matters and what it means for the Iran war and the global energy crisis: HOW BIG IS THE RISK TO GLOBAL ENERGY MARKETS? Iran's closure of the Strait of Hormuz since Israel and the United States attacked it on February 28 has disrupted most oil and other [Read more]
Oil market calm masks a host of unknowns: Bousso
The biggest oil supply shock in decades has entered its fourth month – with no resolution in sight as neither the U.S. nor Iran appears willing to budge - yet the market remains surprisingly calm. This disconnect reflects an uncomfortable reality: the biggest drivers of today’s energy market are a host of unknowns. The renewed strikes between Iran and Israel over the weekend have sent oil prices up over 4% to $98 a barrel on Monday, but Brent crude remains well below levels seen only a few [Read more]
Fifth straight rate hold expected as Bank of Canada meets Wednesday
Economists expect the Bank of Canada to hold its benchmark interest rate steady for the fifth straight time when it meets Wednesday, but its messaging could shed light on how it is navigating ongoing geopolitical uncertainties. The central bank held its policy rate at 2.25 per cent when it last met in April. Bank of Canada governor Tiff Macklem at the time did not rule out future adjustments depending on how risks play out. He had said "monetary policy may need to be nimble" as the central [Read more]
Hormuz strait will be open but with transit fees, Iran envoy to Moscow quoted
The Strait of Hormuz will be open but under new conditions to be set by Iran and Oman, including a transit fee, Iran's ambassador to Moscow was quoted as saying on Monday. The U.S.-Israeli war on Iran has largely cut oil flows via the strait, which before the conflict saw one-fifth of the world's oil pass through. Several tankers have managed to leave the Gulf recently, but oil and liquefied natural gas flows are still severely constrained. "Of course, this strait will be open, but with [Read more]
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