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CANADA STOCKS-Toronto stock futures climb as oil gains on Mideast tensions
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CANADA STOCKS-Toronto stock futures climb as oil gains on Mideast tensions
Jul 22, 2026 4:20 AM

July 22 (Reuters) - Futures tracking Canada's main stock

index edged higher on Wednesday as commodity prices rose, while

investors assessed the impact of widening Middle East conflict

alongside fresh U.S. tariffs on Canadian imports.

September futures tracking the resource-heavy S&P/TSX

Composite index were up 0.2% at 6:54 a.m. ET, suggesting

that the index could rally for a second day after Tuesday's 1.2%

jump.

* Renewed tensions between the United States and Iran drove

oil prices to their highest levels in over a month as concerns

mounted over disruptions to key Middle Eastern supply routes.

* Brent crude futures climbed 3.8% to $94.50 per

barrel, while West Texas Intermediate crude traded around $87.41

a barrel.

* Gold prices edged up as the dollar softened. Spot gold

and silver were up 1% and 0.9%,

respectively.

* Focus is also on the quarterly earnings of U.S. big tech

companies, including Alphabet and Tesla,

which are expected after the closing bell.

* Prime Minister Mark Carney said late Tuesday he and Donald

Trump agreed to intensify trade negotiations after the U.S.

president unveiled plans for 50% tariffs on a wide range of

Canadian imports.

* Canada even canceled a planned joint celebration with its

neighbor to mark the opening of the Gordie Howe International

Bridge between Windsor, Ontario and Detroit, citing trade

threats from Trump.

* Separately, Canada foreign minister Anita Anand called for

a de-escalation and a permanent ceasefire in the Middle East,

describing the situation as "quite grave".

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory

(Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Joyjeet

Das)

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