Energy names like Tourmaline Oil gained on the crude spike, but those gains were offset by losses across gold miners and Canada's big five banks, all pressured by the same Federal Reserve rate-hike expectations dragging on gold globally. The result left the TSX composite essentially flat for the week despite a major escalation in the US-Iran conflict, illustrating how a single session can absorb offsetting cross-sector moves without much net change on the index itself.
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WTI crude oil climbed to $81.78 a barrel, up 16% over the week, after the US-Iran ceasefire collapsed and Washington reimposed a naval blockade of Iranian ports.
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The S&P/TSX Composite closed July at 35,226, up 1.06% for the month, a modest headline figure that conceals sharp intra-month swings.
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Brent and WTI crude both surged in July, with WTI ending the month at $85.47, up 23.0%, after round-tripping from a five-month low near $68.74.
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July 31, 2026
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Brent was the only one of the three to finish above its starting level, while the index and gold both fell.
Brent, TSX and Gold Rebased to the August 31 Close
September 30, 2026
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The Bank of Canada held its policy rate at 2.25% for a seventh straight time, yet Canadian yields rose as United States yields surged.
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The index fell for the month even though Brent crude gained and the Strait of Hormuz stayed shut, because rising United States bond yields outweighed oil and gold.
S&P/TSX Composite Daily Close Through September 2026
September 30, 2026
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