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Line chart showing WTI crude oil closing at $102.55 the day a tanker was struck near Qeshm Island.

WTI crude closed at a new high the same day a commercial vessel was struck near Qeshm Island, the second time in four trading sessions oil crossed a threshold that had held since May. Shipping traffic through the Strait of Hormuz has fallen roughly ninety per cent from pre-war levels, down to about 2 million barrels a day from around 20 million. The chain from that disruption to Canadian portfolios runs through gasoline prices, energy equities and the currency, all moving together as elevated oil persists.

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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