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5 Things to Know Today: Oil Surges on Iran Conflict as TSX Slips Before the BoC

  September 1, 2026 — Here's what's moving markets and your wallet this morning. 1. Oil Jumps as U.S.-Iran Fighting Flares Up Again Weeks of relative calm ended over the weekend when a tanker was struck by projectiles in the Strait of Hormuz and U.S. and Iranian forces exchanged direct attacks for the first time in a month. Brent crude climbed to $91.52/barrel and WTI to $87.01, with President Trump threatening further strikes. What it means for you: Sustained oil gains typically show up at the pump within days. Worth topping up sooner rather than later, especially with the gas tax holiday also winding down (see #4). 2. TSX Slides for a Second Straight Day The TSX closed Monday at 36,270.48, down 283.44 points (-0.78%), with banks and gold miners leading the retreat as geopolitical risk crept back into the picture. Wall Street also pulled back (Dow -0.70%, S&P 500 -0.33%, Nasdaq -0.12%), and the VIX ticked up to 14.92. What it means for you: If you're contributing to ...
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Rocket from Yemen Strikes Tel Aviv, Injuring 16, as Palestinians Mourn 19 Dead in Gaza

 

In the early hours of Saturday, a rocket fired from Yemen struck an area of Tel Aviv, leaving 16 people injured by shattered glass from nearby windows. The Israeli military reported that an additional 14 people sustained minor injuries as they rushed to shelters when air raid sirens sounded before the projectile hit. This attack comes less than two days after a series of Israeli airstrikes on Yemen's Houthi rebel-held capital, Sanaa, and the port city of Hodeida, which killed at least nine people.

The Houthis, an Iran-backed group in Yemen, have launched more than 200 missiles and drones during the ongoing Israel-Hamas war in Gaza. The Houthis have also been attacking shipping in the Red Sea and Gulf of Aden, stating that these attacks will not cease until there is a ceasefire in Gaza.

Meanwhile, in Gaza, mourners held funerals for 19 people, including 12 children, who were killed in separate Israeli strikes on Friday and overnight. One of the strikes hit a residential building in the Nuseirat refugee camp in central Gaza, killing at least seven Palestinians, including five children and one woman, and injuring 16 others. Another strike in Gaza City killed 12 people, including seven children and two women. Gaza's Health Ministry reported that 21 people had been killed over the past 24 hours.

The escalating violence has drawn international concern, with U.N. Secretary-General Antonio Guterres warning that both sides' attacks risk further escalation in the region and undermine U.N. mediation efforts. The situation remains tense as both sides continue to exchange fire, causing significant civilian casualties and damage.




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