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Stock impact report

'A new floor for oil': Prices expected to be higher for longer, potentially unlocking new spending [Yahoo! Finance Canada]

South Bow Corporation Common Shares (SOBO) 
This, despite oil prices surging roughly 40 per cent this month and tentative signs Canadian pipeline projects may be gaining momentum. “There's no jumping for joy, especially because the cause of it is conflict,” said Tamarack Valley Energy Ltd. chief executive Brian Schmidt from Houston. Before the Feb. 28 attack on Iran by the U.S. and Israel, much of the oilpatch — including Tamarack — had expected prices to average around US$60 a barrel this year. But fighting in the Middle East has effectively shut the Strait of Hormuz — a critical waterway for global energy trade — sending prices briefly above US$119 last week. With no clear indication of when flows will resume, analysts warn prices could reach fresh highs in the weeks ahead, potentially exceeding US$150 per barrel. Despite broad expectations of a first-quarter windfall in profits, producers are likely to be cautious about hiking capital spending plans while the situation in the Middle East remains volatile, Schmidt sai Show less Read more
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