Canadian energy stocks slump sharply amid drastic crude oil price drop

Reports indicate a significant global crude oil price decline impacting Canadian energy stocks. Analysts warn that sustained low prices could lead to reduced spending in the oilpatch and signal broader market volatility, prompting investors to reassess their positions in the energy sector. The rapid drop has raised concerns among industry experts about future investments and financial stability within Canada’s oil sector, with market watchers monitoring further developments.

globalnews.ca / Sharp drop in global crude oil prices drags down Canadian energy stocks

West Texas Intermediate crude, the key U.S. benchmark, dropped as low as US$60.45 per barrel today.

calgaryherald.com / Canadian energy stocks dragged down by steep drop in global crude oil prices

If crude price drop ends up being sustained, oilpatch may throttle back spending plans, expert says

globalnews.ca / Alberta oil well report updated after concerns raised over taxpayer backstop recommendation

The Alberta Energy Regulator says there are nearly 500,000 licensed oil and gas wells across the province, although only about 50,000 are active.

cbc.ca / Alberta's plan to manage inactive oil wells now leaves taxpayers off the hook

A new version of a government-commissioned report about Alberta's inactive oil wells and what to do about them now says the province should manage a new insurance fund, rather than backstop it with taxpayer funding.

citynews.ca / Toronto, GTA gas prices headed for big drop on Saturday. What you need to know

Gas prices in Toronto/GTA will drop to 132.9 cents per litre on Saturday, April 5— the lowest since December 2021. Fill up your tank now, according to Roger McKnight of En-Pro International Inc.

nationalpost.com / Jamie Sarkonak: Plunging gas prices? More like fake Liberal charity

The Liberals made you pay more at the pump. Now that they've stopped, they expect a thank you

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Canadian energy stocks slump sharply amid drastic crude oil price drop

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