The Globe and Mail reports in its Saturday edition that low oil prices weighing on producers earlier this year are unlikely to return any time soon as the energy market remains on edge over oil's vulnerability to new geopolitical realities. The Globe's David Berman writes that Janus Henderson analyst Noah Barrett says, "It's difficult to know what the new medium-term price range will be, but I think $70-$85 is a reasonable estimate, as the market applies a higher supply risk premium and we also see demand tailwinds from necessary restocking of inventories (all figures U.S.)." Mr. Berman says he owned Canadian Natural Resources until days before the United States and Israel attacked Iran at the end of February, triggering an energy crisis. Mr. Berman sold his shares because he thought an attack was unlikely. Now, though, there could be a higher floor for oil prices, which will give a new shine to Canadian energy stocks. Canadian oil producers were always a low-risk source of supply compared with other parts of the world. Now these producers look even better as investors learn about the importance of the Strait of Hormuz and Iran's considerable power over it. Mr. Berman says higher oil prices will drive profits higher.