04:20 PM EDT, 03/25/2026 (MT Newswires) -- The Toronto Stock Exchange on Wednesday took total gains for this week to more than 1,000 points, buoyed by news the United States has followed up on Monday's postponement of strikes against Iran's energy infrastructure by at least putting forward an initial peace plan to end the Middle East war, one that Morningstar DBRS says "elevates" North American LNG.

The S&P/TSX Composite Index closed up another 441.01 points, or near 1.4%, to 32,382.60 as it continues to regain ground after losing about 1,600 points and going negative for the year to date last week, amid an escalation in the war.

With some of the latest news on the war and the prospect of peace, Ghoncheh Habibiazad with BBC Persian, reported that Iranian Foreign Minister Abbas Araghchi has said in a televised interview on Iran's state TV news channel today that for "several days" recently "the American side has begun sending various messages through different intermediaries". But, the report adds, he has said the fact that these messages were "conveyed via friendly countries" and that Iran responding by stating their "positions and issuing warnings" was "neither dialogue nor negotiation, nor anything of the sort".

According to the BBC report, Araghchi has also said that Iran's policy for now is to continue "defending" and they have "no intention of negotiating for now".

This comes after Morningstar DBRS published a commentary entitled "From Risk to Relevance: Middle East Disruption Elevates North American LNG" in which it noted the escalating conflict in the Middle East has disrupted the global supply of liquefied natural gas (LNG), damaged infrastructure in Qatar, and constrained shipping. It said these developments have heightened buyer concerns around supply security and transit risk, prompting a reassessment of LNG sourcing strategies. As a result, it added, North American LNG has gained "strategic relevance, supported by jurisdictional stability and expanding export capacity."

Key highlights cited by Morningstar include the following: damage to Qatar's LNG facilities and constraints on shipping through the Strait of Hormuz have tightened global LNG supply, and increased buyer sensitivity to geographic concentration risk; and North American LNG has emerged as a "strategic supply" as buyers prioritize jurisdictional stability, destination flexibility, and contract durability in response to heightened geopolitical risk. U.S. and Canadian LNG projects are, according to Morningstar, "positioned to benefit from greater utilization and longer contract tenors, supporting more stable cash flows and reduced re-contracting risk."

Of commodities, gold traded higher, rising off a near three-month low as treasury yields fell. Gold for April delivery was up US$154.40 to US$4,588.50 per ounce, after falling to the lowest since Jan. 2 a day earlier.

West Texas Intermediate crude oil closed lower, dropping 2.2% after the United States offered a 15-point ceasefire plan to end its war on Iran, raising hopes for an end to a war that has caused the largest supply disruption in history. WTI crude oil for May delivery closed down US$2.02 to settle at US$90.32 per barrel, while May Brent oil was last seen down US$2.51 to US$101.98.