The Global Gambit

The Global Gambit

North American Desk

The Sulfur Shock: Geopolitics and CNQ's Hidden Cash Engine

How Middle East supply disruptions sent sulfur prices soaring above $1,200/ton—and why Canadian Natural Resources Limited (TSX/NYSE: CNQ) is turning a byproduct into a half-billion-dollar windfall.

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The Global Gambit
Aug 24, 2026
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The Middle East conflict has triggered a severe supply squeeze in the global sulfur market, creating a massive, under-the-radar windfall for North American heavy crude producers.

​The Price Surge

Sulfur has staged one of the most aggressive commodity rallies of 2026, driven by tightening global supply chains and acute geopolitical bottlenecks:

  • Pre-War Cont…

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