Most stock markets in the Gulf ended higher on Monday on optimism the U.S. Federal Reserve would pause its rate hikes this month, while rising oil prices cheered investors.
The Canadian government-owned Trans Mountain Corp (TMC) has filed a regulatory application for tolls on its 590,000 barrel per day (bpd) pipeline expansion to Canada's west coast, noting shipping fees would increase if project costs mount.
Canadian Defence Minister Anita Anand said on Saturday that the country's critical infrastructure was increasingly being targeted by cyberattacks, posing a significant threat to the economy of the world's fourth-largest crude oil producer.
U.S. energy firms this week cut the number of oil rigs operating by the most since September 2021, reducing the overall count for a fifth week in a row, energy services firm Baker Hughes Co said in its closely followed report on Friday.
Venezuela's oil exports fell 14% in May from the previous month as crude upgraders at its main oil region produced less exportable grades and state-run oil firm PDVSA struggled to replenish inventories, according to shipping data and documents.