Canada's oil sector might be losing its recent breathing room. For the past couple of years, pipeline constraints had been less of a headache, but that cushion could be shrinking fast. The culprit? A global crude surplus is piling up, crushing prices across the board. When energy commodities take a hit like this, it typically ripples through asset classes—affecting everything from inflation expectations to risk sentiment in markets. Worth watching if you're thinking about macro trends and how they influence broader market cycles.