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Line chart showing WTI crude oil climbing to $103.86 a barrel amid Hormuz tanker strikes in September 2026.

WTI crude has climbed more than 23 per cent over the past month as escalating tanker strikes near the Strait of Hormuz repeatedly disrupted shipping through the chokepoint. The rise pushed gasoline prices higher in the United States, feeding a hotter than expected August inflation report, while the same commodity spike lifted energy and materials shares on Canadian markets. A single oil shock is now working through consumer prices and stock indexes in opposite directions.

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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