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Line chart of Brent crude oil prices, August 28 to September 28, 2026, rising to about $100 after a peak near $108.

Crude rallied on attacks in the Strait of Hormuz and a sharp drop in tanker crossings, a supply shock separate from the tariff dispute between Canada and the United States. The US tariff exempts energy, potash and critical minerals, so strength in energy shares props up the TSX headline level while tariff-exposed sectors weaken underneath. Wider naval incidents, or new US measures reaching the exempt categories, are the risks to that balance.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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