Energy Finance

The Hormuz Strait blockade has cut 20 million barrels per day from global oil markets, forcing the Bank of England to hold rates at 3.75% amid inflation fears. UK lenders are now raising mortgage rates despite the hold, with the Federal Reserve's Raphael Bostic projecting persistent price pressures until late 2026.

Canadian Natural Resources allocated $6.425 billion in 2026 capital spending, targeting 1,590-1,650 MBOE/d production. The NRUTT project at Horizon aims to add 6,300 bbl/d of synthetic crude oil by Q3 2027. The company carries $17.2 billion in debt while committing $2.98 billion to thermal and oil sands operations.