Headlines

Saudi Arabia is planning an offensive against Iran-backed Houthi militants in Yemen, with options being considered including a coastal push to secure the Red Sea shipping route or an assault on multiple fronts, regional and Western officials told Reuters. The operation, expected to be launched in the coming weeks, will by led by Yemeni forces on the ground, which are overseen by Riyadh, and supported by Saudi air strikes, according to six people with knowledge of the preparations. While [Read more]

OTTAWA, ON, Oct. 2, 2026 /CNW/ -- "Today, we, the leaders of the G7, convened a virtual meeting to address the deepening challenges to our energy security. Facing unprecedented volatility in oil markets—with surging prices threatening economic stability and the well-being of our citizens—we have agreed on decisive, coordinated measures to stabilise immediate energy supplies, shield households and businesses from price shocks, and strengthen the long-term resilience of global energy [Read more]

A $8.4 billion oil recovery project mentioned by US President Donald Trump is not part of a strategic investment agreement between the US and South Korea, Yonhap reported on Friday, citing an industry ministry official. The official said an inquiry has been sent to the US side through communication channels, according to the report. Trump said on Truth Social on Friday that a US trade deal with South Korea includes $8.4 billion for a project to pump gases into an aging oilfield to push out [Read more]

Brazilian state-run oil company Petrobras said on Friday it had made a new oil discovery in ultra-deep waters off Amapa state, an area known as equatorial margin that it considers its most promising new oil frontier. According to a securities filing, an oil-bearing interval was found in the Morpho well, marking a new discovery in block FZA-M-59, where it had already identified hydrocarbons in August. * The oil found in August was of good quality, the firm said * Petrobras CEO Magda [Read more]

Calgary, Alberta--(Newsfile Corp. - October 1, 2026) - Lotus Creek Exploration Inc. (TSXV: LTC) ("Lotus Creek" or the "Company") is pleased to announce that the August Operational Update to Shareholders has been posted to the Company's website and can be accessed via the following link: August Operational Update The Company is committed to providing shareholders with regular monthly updates on its financial and operational progress. The timing of these updates may vary as the Company [Read more]

The discount on Western Canada Select crude oil to North American benchmark West Texas Intermediate futures widened on Thursday. WCS for November delivery in Hardisty, Alberta, settled at $24.10 a barrel below the U.S. benchmark WTI, according to brokerage CalRock, compared with $21.60 on Wednesday. * Canada will fast track the approval process for a new proposed crude oil export pipeline to its west coast that could generate over C$20 billion ($14 billion) a year in GDP, Prime Minister Mark [Read more]