The Globe and Mail reports in its Friday edition that so far in November, crude oil futures prices have dropped over $15 (U.S.) a barrel. Columnist Ted Dixon writes that traders bet heavily that a weak showing by the Republicans in the U.S. midterms would encourage the Trump administration to secure an agreement with Iran to reopen the Strait of Hormuz. Unsurprisingly, oil patch stocks fell in sympathy with crude. To confirm the assumption that the geopolitical landscape will continue to support Canadian oil patch stocks, Mr. Dixon looked at insiders to see if they've been buying the November pullback. They have been doing just that. Chief executive officer Andrew Phillips bought 6,300 shares at $34.80, while director Ian Dundas bought 2,500 shares at $34.71. PrairieSky's total royalty production in the third quarter was 26,936 barrels of oil equivalent per day, up 4.9 per cent from the same period in 2025. Liquids royalty production rose 6 per cent. Funds from operations were $127.9-million, up 42 per cent, or 55 cents a share. Growth was driven by higher liquids production and strong West Texas Intermediate pricing. PrairieSky stock hit a 52-week high of $38.08 on Oct. 27 after the release of third-quarter results.
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