WTI crude jumped 8.7% Monday afternoon to $77.61 a barrel, roughly double the size of the overnight move that followed the weekend's fourth wave of US strikes against Iran. The bigger driver was a same day announcement of a 20% toll on Strait of Hormuz shipping and a reinstated Iranian blockade, rather than the military strikes themselves. The Federal Reserve's own monetary policy report to Congress, published the prior Friday, had already named war related energy costs as one of three specific drivers behind this spring's rise in inflation.
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.
Related charts
Eight assets moved in the same trading session Monday after the Strait of Hormuz toll announcement, and the pattern favoured rate proxies over the traditional geopolitical hedge.
A 20 Percent Toll Moved Oil More Than the Weekend's Strikes Did, and Gold Did Not Notice
July 13, 2026
View chart & download
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
View chart & download
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.
Government of Canada Benchmark Yields, September 2026
September 30, 2026
View chart & download
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
View chart & download
Canadian yields drifted higher through August even though the Bank of Canada held its policy rate at 2.25% and had no decision to make during the month.
Government of Canada Benchmark Yields, August 2026
August 31, 2026
View chart & download
Gold rallied and gold miner shares carried the TSX higher, while Brent ended the month close to where it began.
Gold, TSX and Brent Rebased to the July 31 Close
August 31, 2026
View chart & download