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The Middle East oil shock

Oil is sold on a world market, so Canadian refiners pay the world price. No official negotiations to end the war are under way.

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Claims from: No negotiations, and a US estimate of what the war costs · Show all story claims

One oil price stands behind Alberta's forecast of a C$2 billion surplus for 2026-27. It is US$73.50 a barrel for West Texas Intermediate, for a fiscal year that ends on March 31, 2027. On September 10, 2026 that benchmark closed above US$100. What follows for the surplus?

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