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Stocks Rise as Oil Slips Below $100 After Trump Extends Iran Ceasefire

North American markets opened higher this morning after President Trump extended the U.S.–Iran ceasefire, easing immediate geopolitical tensions and giving investors a reason to rotate back into risk assets. Oil prices slipped below the key $100 threshold for the first time in several sessions, reflecting reduced fears of supply disruptions through the Strait of Hormuz. Brent and WTI both moved lower in early trading as traders unwound some of the geopolitical risk premium that had built up over the past week. Equities responded positively, with major U.S. and Canadian indexes posting early gains. Tech, financials, and consumer stocks led the advance, while energy names lagged due to the pullback in crude. For Canadian investors, the dynamic is mixed: lower oil prices weigh on the TSX’s resource-heavy sectors, but a calmer geopolitical backdrop supports broader market sentiment and reduces inflationary pressure tied to energy costs.
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Yemen’s Houthis Target Ships Linked to US, UK, and Israel

 

In a series of military operations, Yemen’s Houthi group targeted four ships across different seas, claiming they were linked to the United States, the United Kingdom, and Israel. Here are the details:

  1. Israeli Ship MSC Unific: The first operation took place in the Arabian Sea, where the Houthi forces targeted the Israeli cargo ship MSC Unific.

  2. U.S. Oil Tanker Delonix: In a second operation, the Houthi forces struck the U.S. oil tanker Delonix, which was sailing in the Red Sea.

  3. U.K. Landing Ship Anvil Point: The third operation occurred in the Indian Ocean, where the Houthi forces targeted the U.K. landing ship Anvil Point.

  4. Mediterranean Sea Incident: The fourth operation involved a ship identified as the “Lucky Sailor” in the Mediterranean Sea.

Yemen’s Iran-aligned Houthi group has been launching drone and missile strikes in shipping lanes since November, expressing solidarity with Palestinians in Gaza. However, Reuters has not independently verified these claims.

These attacks highlight the ongoing tensions in the region and the geopolitical implications surrounding maritime security. The situation remains fluid, and international authorities are closely monitoring developments.

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