Canadian Oil Seen Remaining Competitive Despite Potential Venezuelan Supply Rebound

Canadian Prime Minister Mark Carney indicated that Canadian crude is likely to remain cost-competitive and relatively low risk even if Venezuela’s oil output expands following recent U.S. political developments and potential renewed investment by U.S. producers. The comments come as global benchmarks Oil – US Crude and Oil – Brent Crude trade in a narrow range, with investors weighing the prospect of additional Venezuelan supply against Canada’s established infrastructure, political stability, and predictable regulatory environment. Natural gas markets, represented by Natural Gas, remain under pressure amid ample supply and seasonal demand dynamics, adding another layer of complexity to North American energy pricing.

Over the past month, Oil – US Crude has slipped about 0.95%, while Oil – Brent Crude has declined roughly 1.25%, reflecting modest downside as markets assess future supply from producers including Venezuela. Technically, both benchmarks currently register a Hold and Hold signal, respectively, suggesting no strong directional conviction in the near term. In contrast, Natural Gas has dropped sharply by about 23.29% over the last month, with its 1-day technical stance flashing a Sell signal, highlighting continued bearish momentum and underscoring how gas markets are diverging from the relatively steadier crude complex. Investors can explore more updates, prices, and analysis across global markets at Commodities.