Wednesday, August 6, 2025

Canadian Dollar Sets Two-Month High as Oil Overshadows Jobs Data

Canadian Dollar Sets Two-Month High as Oil Overshadows Jobs Data Via Bloomberg The Canadian dollar climbed to the highest in two months as a rally in crude oil overshadowed an underwhelming September jobs report. The price per barrel of North America’s benchmark West Texas Intermediate oil grade is heading for its biggest weekly increase since August. The currency pared some

Judge OKs $446 Million Lac-Megantic Settlement

US judge OKs $446 million settlement for victims of Lac-Megantic disaster Via The AP PORTLAND, Maine – A U.S. bankruptcy judge has approved a $446 million Cdn settlement fund for victims of the fiery Lac-Megantic oil-train derailment in Quebec, clearing the way for payments to victims by year’s end. Judge Peter Cary in Portland, Maine, announced his decision Friday after

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Refining Sector Attracts U.S. Mutual Funds

Tesoro and Valero bright-spots on S&P500 Energy Index The outlook for the refining sector continues to be a bright spot in an otherwise gloomy outlook for the energy industry. While E&Ps look for the best ways to cut costs amid the continued low oil prices, refineries are enjoying stronger margins on cheaper feedstock. In August, gross inputs to U.S. refineries

North Dakota Production

Oil Rigs Continue Six-Week Slide

Rig count hits five-year low The U.S. rig count continued to slide further even as WTI prices staged a comeback, climbing near $50 per barrel. The total rig count in the U.S. fell 14 rigs this week to 795 total rigs, according to Baker Hughes Industries (ticker: BHI). Rigs are down 69 from the beginning of August, and 814, or