- Qatar and Kuwait restored 70% of their pre-war oil exports through the Strait of Hormuz, easing part of the disruption risk.
- Canada posted a current account surplus more than twice economists’ expectations as crude oil and bitumen exports reached a record.
- Alberta Premier Danielle Smith rejected export taxes on crude shipments to the United States, warning that retaliation would damage Canada.
Quotes
“Although I understand the need to respond strongly to these tariffs, I cannot think of a more disastrous policy decision than cutting off or taxing Alberta’s oil to the United States”