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Oil Surges Past $103 as TSX Extends Losing Streak

  Markets are lower this morning as oil surges past US$103 and tech stocks remain under pressure, with the TSX coming off a fourth straight decline. Below is your ready-to-publish Canadian Money Brief update for April 29, 2026 , built from today’s market data and news. TSX slips as oil spikes and global tensions rise The S&P/TSX Composite opened at 33,584 , down 0.69% from yesterday’s close as weakness in tech and materials continues to weigh on the index. Rising geopolitical tensions and renewed uncertainty around the Iran conflict have pushed WTI crude above US$103 , lifting Canadian energy names but not enough to offset broader declines.  U.S. markets are also softer, with the S&P 500 down 0.49% and tech stocks retreating amid renewed AI growth concerns.  Oil rallies on OPEC turmoil Crude prices are up more than 3% , driven by the UAE’s announcement that it will exit OPEC and by expectations of prolonged supply disruptions tied to the Iran war.  ...
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Ceasefire Deliberations Continue Amidst Tensions in Gaza

 

The latest ceasefire proposal by Israel has been met with skepticism by Hamas, stating that it falls short of the Palestinian demands. Despite this, the offer is currently under review, as confirmed by Hamas on Tuesday. The proposal, which was conveyed through Egyptian, Qatari, and American mediators, has not been publicly detailed, but it is known to address the cessation of hostilities in the Gaza Strip.

The ongoing conflict has seen a significant escalation, with Israeli Prime Minister Benjamin Netanyahu announcing plans for a military ground offensive into Rafah, a densely populated area in Gaza. This move has raised concerns about the potential for increased civilian casualties and further devastation.

As the international community watches closely, the outcome of these ceasefire talks could be pivotal in determining the next phase of the conflict. Hamas has expressed its commitment to reaching an agreement that would end the aggression against the Palestinian people, yet it remains to be seen whether Israel’s proposal will be deemed acceptable.

The review of the ceasefire proposal comes at a critical juncture, with the United Nations committee set to review Palestine’s status as a full state member this month. Meanwhile, the region continues to grapple with the humanitarian crisis unfolding as a result of the six-month-long conflict.

Hamas’s response to the ceasefire proposal is highly anticipated, as it will signal the potential for progress or the likelihood of continued hostilities in the region.

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