Oil fell in Asian trade on expectations that the U.S.-Iran talks will continue next week.
The Canadian oil-producing province of Alberta forecast a budget deficit of C$9.4 billion ($6.87 billion) for its 2026/27 fiscal year on Thursday, breaking its own rules on allowable deficit financing and blaming lower global crude prices that have walloped the government's resource revenues.
Nuclear talks on Thursday were expected to ease the uncertainty surrounding tensions between the U.S. and Iran. They ended with the promise of further discussions.
Oil rose in the morning Asian session on likely position adjustments before today's U.S.-Iran talks.
JP Morgan sees geopolitics reclaiming the driver's seat for European oil and gas equities, arguing that a higher risk premium has helped push oil prices up, and dragged energy shares higher year-to-date in the process. The bank's analysts, in a note, said the sector's recent performance has “re-coupled to rallying oil prices” after a stretch of “positive decoupling” in the second half of 2025, adding that the move looks increasingly macro-led given a “relatively benign EPS revision backdrop” even as share prices have run ahead.
Diamondback generated 11% FCF yield in 2025, returning $3.2B to shareholders via $2B buybacks and $1.2B dividends while reducing debt by $1.3B. I focus on how the company is profiting after the peak of the shale cycle. Management prioritizes opportunistic share repurchases and debt paydown over drilling at current prices, targeting continued deleveraging from a 1.6x trailing leverage ratio.
Oil prices were hovering near seven-month highs on Wednesday as the threat of military conflict between the U.S. and Iran that could disrupt supply continues to worry investors even as talks between the parties are set for Thursday.
Oil rose in the morning Asian session as traders braced for U.S.-Iran talks.
Crude oil outlook tightens as Iran talks near, with traders increasing protection on fears of possible conflict and disruption to global oil demand.
Oil edged lower amid possible position adjustments before looming U.S.-Iran talks.
Former Energy secretary warns Iran strike fears could disrupt oil supplies through Strait of Hormuz, but strong U.S. production keeps prices stable.
The third round of talks between the U.S. and Iran are expected to continue in Geneva on Thursday. Brent rallied to a six-month high of $71 last week, as Iran-related supply fears drove up risk premium.