It was a fairly tame Friday for Canadian gas, with warmer Ontario and Quebec weather softening the demand side and NEXUS maintenance still limiting some Ontario-area flows. NYMEX fell $0.02 USD/MMBtu and Dawn slipped $0.01 CAD/GJ, while WTI added $0.89 to $98.76 USD/bbl. Broader energy sentiment, though, remained tied to the U.S.-Iran conflict and the ongoing disruption through the Strait of Hormuz. Even with ceasefire talk in the background, crude flows through Hormuz have not fully normalized and competition for available barrels remains elevated. Rystad Energy’s Jai Singh said the market still appears to be underestimating the scale of the supply disruption, and with prices expected to stay firmer for longer, some producers are beginning to consider adding rigs. (JM)