The Canadian Index

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Line chart showing WTI crude oil prices from mid-June to mid-July 2026, including the July 13 price jump.

June's US inflation reading cooled to 3.5 percent, partly on a nearly 10 percent drop in gasoline prices tied to a brief Hormuz ceasefire. That ceasefire ended July 8, a week before the Bank of Canada and Fed Chair Kevin Warsh each pointed to the cooler inflation data on Wednesday. WTI has already priced the reversal, jumping 9.4 percent in a single session on July 13, its largest one-day move of the disruption, after a fourth wave of US strikes on Iran.

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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Chart comparing same-day moves across eight assets as gold fell and Brent crude rose on Iran's expanded export threat.

Wednesday's cross-asset move looked calm on the surface, but Iran's Revolutionary Guard had just extended its threat beyond the Strait of…

Warsh and the Bank of Canada Both Cited a CPI Print Built on a Ceasefire That Had Already Ended

July 15, 2026

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Line chart showing WTI crude oil declining over four sessions amid a Hormuz shipping data dispute.

Crude oil has fallen for four straight sessions, with the U.S.

Oil Falls for a Fourth Session as Hormuz Shipping Data Is Disputed

September 21, 2026

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Line chart of the TSX Composite as Canadian bond yields stayed elevated despite falling oil prices.

The Government of Canada 10-year bond yield closed near 3.94 percent in mid-September, largely unchanged from before oil began its decline,…

TSX Slides as Canadian Bond Yields Stay Elevated Despite Falling Oil

September 21, 2026

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Line chart tracking the S&P/TSX Composite through July's ceasefire collapse, near-record rally, and late-month pullback to a 35,226 close.

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.

S&P/TSX Composite closes July up 1.06% after a volatile month

July 31, 2026

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Line chart comparing Brent and WTI crude oil prices through July's four-leg rally to $85.47.

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.

WTI and Brent crude surge in July as the Iran ceasefire collapses

July 31, 2026

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Line chart comparing WTI crude oil and gold prices as they diverged after the US-Iran truce collapse in July 2026.

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.

WTI crude oil and gold prices diverge after Iran truce collapse

July 18, 2026

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