Eric Nuttall’s Top Picks for March 26, 2026
BNN Bloomberg
Top Picks from Eric Nuttall, Partner and Senior Portfolio Manager, Ninepoint Partners
Focus: Energy stocks
Top Picks: Strathcona Resources, Whitecap Resources, Ovintiv
MARKET OUTLOOK:
We face the gravest energy crisis of our lifetimes. Global oil production is down 11 million barrels per day, flows are down 17 million barrels per day , and liquefied natural gas (LNG) flows are down 20 per cent, with a three to five year forward loss of at least 3.5 per cent.
The Strait of Hormuz will eventually open, it has to for the world to function, and the breaking point is nearing. The final ships that were able to make safe passage are arriving at port now, meaning the real supply loss has yet to be felt.
Iran and the United States hardened their positions as a diplomatic push for a ceasefire in the Middle East war appeared to falter on Thursday.
Asian stocks traded lower and oil prices rose back to around US$100 per barrel on Thursday as a de-escalation of the Iran war remained uncertain.
Crude oil prices have dipped slightly amid hope for an easing of conflict in the Middle East, but remain far above prices before the United States launched its attack against Iran.
Hopes for a possible end to the war with Iran pushed stocks higher on Wall Street Wednesday, while oil prices eased.
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Two Canadian institutional giants are buying renewable power producer Boralex Inc. in a deal that they say will provide the scale and resources needed to accelerate growth.
Canada’s main stock index was up nearly 300 points in late-morning trading, helped by strength in the base metals and utilities sectors, while U.S. stock markets also climbed.
Muted reaction to U.S.-Iran talks reflects fragile sentiment as recession risks rise and bond yields climb amid ongoing geopolitical uncertainty.
Aecon Group Inc. says a joint venture has finalized a US$691-million contract with the U.S. Army Corps of Engineers for a project in Washington state.
U.S. corporate finance chiefs’ outlook for the economy improved over the first months of the year, at least until the outbreak of the U.S.-Israeli war on Iran, with executives expecting to increase employment amid solid revenue growth, though with continued pressure as well to raise prices, according to a Federal Reserve survey.
U.S. suppliers have shipped approximately 30,000 barrels of fuel to Cuba’s private sector this year to date, according to documents and shipping data viewed by Reuters, suggesting a Trump administration plan to give private business a leg up over state-run enterprise is well underway.
Mining analyst sees copper, gold and lithium stocks benefiting from supply constraints, electrification and long-term demand trends.
An oil refinery fire near the Texas coast was put out Tuesday and a shelter-in-place order was lifted following air-quality testing, hours after a large explosion at the complex shot plumes of smoke into the air, officials said.