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Line chart showing WTI crude oil prices surging 18 percent over thirteen trading sessions.

Iran has claimed strikes on US tankers and warships this week, while the US says it hit ten Iranian tankers, as the two countries' conflict in the Persian Gulf escalates sharply. Iran's own oil exports have collapsed roughly 80% year over year under the resulting blockade, and Goldman Sachs has warned prices could reach $120 if shipping risks keep rising. The currency's limited response so far suggests markets are pricing this as geopolitical risk rather than a straightforward windfall for Canadian producers.

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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