Syncrude Canada, a majority-owned oil sands producer by Suncor Energy Inc., will reportedly pay C$390,000 after pleading guilty to a health and safety charge.
Croft added that Iran has the potential to repeat its playbook from 2019 when it allegedly attacked oil tankers in the Strait of Hormuz, a critical waterway for oil import and export.
U.S. stocks traded lower, with the Nasdaq Composite falling around 150 points on Wednesday.
Shares of TDCX Inc. (NYSE: TDCX) rose sharply during Wednesday’s session after it disclosed receiving a preliminary non-binding acquisition offer.
The deal has sparked controversy for insufficient financial and equity provisions for developing nations and resistance from major oil-producing countries.