The Trump administration announced a 10% tariff on Canadian crude exports, but Stratas Advisors does not think the tariffs will have any material impact on Canadian oil production or exports to the U.S.
WTI crude futures were down $0.04, or 0.01%, at $72.49 after climbing as much as 3.7% earlier in the session to reach their highest since Jan. 24 at $75.18.
Oil prices rose, with WTI up 2.4% at $74.27 a barrel and Brent crude futures adding 1% to $76.40 a barrel.
Plug Power CEO Andy Marsh says the U.S., with renewable energy resources, should be the world’s leading exporter of hydrogen as it competes globally, including with China.
E&Ps such as Expand Energy and EQT Corp. saw share prices drop on news of less power-intensive AI, but analysts predict the natural gas market will rebound as LNG exports and overall power demand continues to increase.
Here’s a roundup of the latest E&P headlines including new drilling in the eastern Mediterranean and new contracts in Australia.
The announcement, in a document from the White House, reflects President Trump’s skepticism about global warming, which he has called a hoax.
For oil and gas, big M&A deals will probably encounter less resistance, tariffs could be a threat and the industry will likely shrug off “drill, baby, drill” entreaties.
Stratas Advisors expect that there is some room for oil prices to move higher this week, but the price of Brent crude oil will struggle to breakthrough $82.50.
Here is a look at some of this week’s renewable energy news, including guidance on technology-neutral clean electricity credits.