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Breaking Posted 4 hours ago

Oil Rallies on Iran Tanker Strike; Canadian Crude Lags Global

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Brent crude jumped 3.33% to $109.50/bbl and WTI rose 3.41% to $101.30/bbl after CENTCOM confirmed an Iranian strike sank a container ship in the Strait of Hormuz. However, Canadian crude underperformed the rally. The supply disruption risk supports CAD through energy revenues, but domestic refining bottlenecks and the BoC's inflation warning from rising energy costs complicate the outlook for policy repricing.
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