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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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Israel Reopens Key Crossing for Aid to Enter Gaza After U.S. Pauses Weapons Shipment

 

In a significant development, Israel has reopened the Kerem Shalom crossing into Gaza, a crucial terminal for the entry of humanitarian aid. The crossing had been closed over the weekend following a Hamas rocket attack that tragically killed four Israeli soldiers nearby. Here are the key points:

  1. Background:

    • The Kerem Shalom crossing serves as a lifeline for humanitarian aid entering Gaza.
    • The recent rocket attack prompted its closure, but Israel has now reopened it.

  2. Rafah Crossing and Tensions:

    • Israel also seized the nearby Rafah crossing between Gaza and Egypt, which remains closed.
    • The limited incursion into Rafah does not signal a full-scale invasion of the city, but tensions remain high.
    • The situation highlights the growing rift between Israel and the United States, its main backer.

  3. U.S. Involvement:

    • The U.S. recently paused a shipment of bombs to Israel due to concerns about a potential full-scale assault on Rafah.
    • Efforts are underway to negotiate a temporary ceasefire and the release of Israeli hostages held by Hamas.

  4. Humanitarian Aid and Control:

    • The Rafah crossing is vital for humanitarian aid and the movement of people.
    • Israel now controls all of Gaza’s border crossings for the first time in nearly two decades, cooperating with Egypt on maintaining a blockade.

  5. Ongoing Challenges:

    • Sporadic explosions and gunfire have been reported near the Rafah crossing.
    • Patients and wounded individuals scheduled for medical treatment have been left stranded.

  6. Hope Amidst Tensions:

    • UN agencies and aid groups continue their efforts to provide humanitarian assistance.
    • The situation remains complex, with both humanitarian needs and security concerns at play.

As the situation unfolds, the fate of civilians caught in the conflict hangs in the balance. The reopening of the Kerem Shalom crossing offers a glimmer of hope, but challenges persist. 



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