Weekly closes

The Friday Close

A weekly read on commodities and trade policy, published every Friday after the North American close. Five headlines, one chart, the policy moves that matter, a Canada desk, and what we are watching next.

Issues

  1. Issue 3

    Friday, October 9, 2026

    Supply squeezed at Hormuz and in the Gulf

    Attacks on tankers in the Strait of Hormuz reached a wartime high, and Hurricane Isaias shut most US Gulf oil output. In Canada, August exports rose on diesel, September jobs fell, and China took most of the crude shipped across the Pacific.

  2. Issue 2

    Friday, October 2, 2026

    Brent spot pulls away as Ottawa backs a Pacific pipeline

    Brent spot's premium over WTI reached its widest of the year as a third US carrier headed for the Middle East. In Canada, LNG Canada committed to doubling Kitimat, Ottawa listed a crude pipeline to the Pacific as a project of national interest, and July's output was flat.

  3. Issue 1

    Friday, September 25, 2026

    Brent pulls away from WTI after October's expiry

    On one contract from Tuesday, Brent gained more than US crude, though by less than the price service's weekly quotes suggest: they span the expiry of WTI's October contract. US crude stocks rose while Midwest refining and imports of Canadian crude fell. Statistics Canada's customs figures show gold, mostly through its price, carrying over half of Canada's export gain beyond the United States.

Get it on Friday

One email after the close. The issue, its chart, and nothing else.