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Iran Fires on Three Ships in Strait of Hormuz, Sending Markets Into Fresh Turmoil

Co mmercial vessels transit the Strait of Hormuz as regional tensions escalate following reports that Iran fired on three ships, raising fresh concerns for global oil supply and market stability. Iran’s latest escalation in the Strait of Hormuz—firing on three commercial vessels and seizing at least two—has intensified geopolitical risk at one of the world’s most critical energy chokepoints. The attacks, carried out by Iran’s Revolutionary Guard, come just hours after President Donald Trump extended the U.S.–Iran ceasefire indefinitely, though Washington has vowed to maintain its blockade of Iranian ports.  The renewed hostilities underscore the fragility of diplomatic efforts. Iran has not formally acknowledged the ceasefire extension and appears to be leveraging control of the strait—through which roughly 20% of global oil and natural gas flows —to strengthen its negotiating position. The continued closure or disruption of the waterway has already pushed gas and food prices sha...
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Canada’s Economy Shows Signs of Growth in August After Flat July



According to Statistics Canada, the Canadian economy experienced stagnation in July, with a zero percent growth rate. The service sector expanded slightly, while goods-producing industries shrank. Economists had anticipated a slight expansion of about 0.1 percent. However, the manufacturing sector contracted by 1.5 percent, marking its largest decline in over two years.

In August, the Canadian economy showed signs of growth. Real gross domestic product (GDP) rose by 1.2 percent, marking the fourth consecutive month of growth following the steepest drops on record in March and April due to pandemic lockdowns. Although August’s figure was lower than July’s 3.1 percent expansion, it still indicates a positive trend in economic recovery.

Please note that these figures are subject to change as new data becomes available.

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