The Canadian Index

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Chart showing Trans Mountain pipeline reaching full capacity as Asian buyers increase demand for Canadian crude oil.

Asian buyers, led by China, are turning to Canadian crude as the Iran war disrupts Gulf supply through the Strait of Hormuz, with China alone now taking more than 200,000 barrels a day. Trans Mountain's pipeline has reached full capacity for the first time since its expansion completed, meaning Canada cannot fully absorb the diversification demand the war is creating, a bottleneck that a planned 2029 expansion is the earliest scheduled relief for.

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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Line chart showing WTI crude oil closing at $102.55 the day a tanker was struck near Qeshm Island.

WTI crude closed at a new high the same day a commercial vessel was struck near Qeshm Island, the second time in four trading sessions oil…

A Tanker Strike Near Qeshm Island Confirms Oil Above $100 Is Not a Blip

September 14, 2026

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Line chart showing WTI crude oil prices falling over three sessions in late August 2026 despite new Iran sanctions.

Oil has fallen for three straight sessions despite Washington unveiling its most sweeping Iran sanctions campaign on record, because the…

Oil Fell After the Toughest Iran Sanctions Ever. The Chain That Explains Why Runs Through a Shipping Corridor, Not the Sanctions List.

August 26, 2026

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Line chart showing WTI crude oil easing to $85.46 a barrel after new US sanctions on Iran in August 2026.

WTI crude eased to $85.46 Tuesday, below the $87.06 high touched the previous Friday, even after the US Treasury announced the broadest…

Why WTI Eased After Washington's Toughest Iran Sanctions Yet

August 25, 2026

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Line chart of weekly average daily vessel transits through the Strait of Hormuz, December 2025 to October 2026.

Traffic through the strait collapsed once the war began, and September averaged about 3.6 vessels a day against 68.1 before it.

Strait of Hormuz Weekly Average Vessel Transits, December 2025 to October 2026

October 7, 2026

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Line chart of daily WTI crude oil front-month futures closes from August 31 to September 28, 2026.

Oil barely moved on the day Washington rejected Iran's Hormuz plan, because physical supply has been recovering and Middle East exports are at their highest since the conflict began.

WTI Crude Oil Front-Month Futures, August 31 to September 28, 2026

September 29, 2026

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Line chart showing WTI crude oil climbing above 100 dollars a barrel amid the Strait of Hormuz conflict.

WTI crude has climbed roughly 51 percent since early July as the Strait of Hormuz conflict enters its third month, with commercial shipping…

Why a War in the Strait of Hormuz Is Steering a Federal Reserve Decision

September 16, 2026

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