Equity markets are experiencing significant gains driven by optimism surrounding artificial intelligence, despite ongoing challenges in the energy sector. The enthusiasm for AI's potential is propelling market valuations to new heights, even as the world faces one of the largest energy shocks in history. This juxtaposition highlights the complex interplay between technological advancements and energy market dynamics. Oil remains a critical resource, with potential crises in the Middle East posing risks to global supply. The logistics of oil transportation, primarily via tankers, play a crucial role in maintaining stable supply chains. Canadian oil trade, which relies heavily on pipelines to the US, contrasts with global tanker-based distribution, affecting market dynamics and pricing strategies. Meanwhile, the US continues to be a net importer of crude oil but a net exporter of petroleum products, influenced by the growth of natural gas liquids.