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Oil Surges Toward $98 as Red Sea Attacks Escalate — TSX Holds Near Record High | Daily Markets Update, July 23, 2026

  Thursday, July 23, 2026 Oil is the story again this morning. Brent crude jumped as much as 4.6% to touch $98.44 US a barrel before easing slightly, its highest level since May, after Iran-backed Houthi rebels said they struck two Saudi oil tankers in the Red Sea — opening a new front in a conflict that's already kept crude climbing for weeks. U.S. crude (WTI) pushed above $90 US for the first time since early June. That's on top of Wednesday's session, when Canada's S&P/TSX composite index closed at a fresh record high, even as U.S. tech stocks wobbled after Alphabet and Tesla both spooked investors with ballooning spending plans in their earnings reports. 🇨🇦 Canada: TSX Closes at a Record, But Oil's Latest Jump Cuts Both Ways Canada's main index closed up 116.03 points, or 0.3%, at 35,485.11 on Wednesday — another all-time closing high, even as U.S. President Donald Trump issued fresh tariff threats on generic drug imports from Canada. BMO Global Ass...
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Escalation in Gaza: Hospital in Flames Amidst Conflict

 

In a tragic turn of events, Israeli troops stormed the Kamal Adwan Hospital in northern Gaza on Friday, forcibly removing staff and patients before setting parts of the hospital on fire. The hospital, one of the last operating in the area, has been repeatedly targeted over the past three months as Israeli forces continue their offensive against Hamas fighters.

The Gaza Health Ministry reported that the troops forced medical personnel and patients to assemble in the hospital yard, where they were stripped of their clothes in the cold winter temperatures. Some patients were relocated to the nearby Indonesian hospital, which had already been knocked out of operation by an Israeli raid earlier in the week.

The ministry's account, which could not be independently confirmed, described fires being set in several parts of the hospital, including the lab and surgery department. An audio message from an unidentified staff member posted on social media highlighted the dire situation, with patients unhooked from oxygen and at risk of dying at any moment.

This incident is part of a broader offensive that has seen northern Gaza areas like Jabaliya, Beit Hanoun, and Beit Lahiya virtually sealed off, with large parts of these districts leveled. The ongoing conflict has raised fears of famine, with the U.N. reporting only four humanitarian deliveries to the area from December 1 to December 23.

The Israeli military has claimed that their operations target Hamas infrastructure and fighters, though they have provided no evidence to support their accusations that Hamas fighters were operating inside Kamal Adwan Hospital. Hospital officials have denied these claims.

The situation remains dire, with thousands of Palestinians forced out of their homes and the health sector in Gaza devastated by the nearly 15-month-old campaign of bombardment and offensives. The international community continues to watch closely as the humanitarian crisis in Gaza deepens.


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