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Oil jumps above US$105 after Riyadh blasts, futures slip and yields near 24-year highs. TSX, Wall Street and global markets for Oct 8.

  Canadian Money Brief | Thursday, October 8, 2026 | Morning edition Oil is jumping, futures are sliding and bond yields are sitting near 24-year highs. Explosions in Riyadh, including a blast at the city's airport, sent crude sharply higher early Thursday and pushed U.S. stock futures lower. That follows a rough Wednesday for Toronto, where banks and miners dragged the TSX down. Here is where every major market stands before the open. Key takeaways Brent crude jumped about 5% to above US$105 a barrel; WTI rose about 5% to roughly US$92.75. S&P 500 futures are down about 0.6% and Dow futures about 1% after Wall Street's four-day winning streak ended Wednesday. The TSX fell about 1.7% Wednesday to near 35,040, led lower by the big banks and gold miners. The U.S. 10-year yield touched 5.36% on Wednesday, its highest since April 2002, and is hovering near 5.3% again. Markets are pricing in at least one Bank of Canada rate hike by year-end. Canada: TSX stumbles as banks and m...
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Israel Strikes Iran in Narrow Attack Amid Escalation Fears

Israel has carried out a retaliatory strike against Iran, according to US officials. The Israeli military operation comes after Iran’s massive drone and missile attack on Israeli territory. Tensions in the region remain high, with both countries engaging in a series of retaliatory strikes.

Here’s what we know so far:

  1. Military Operation: Israel warned the Biden administration that a strike was imminent within the next 24 to 48 hours. The Israelis assured their US counterparts that Iran’s nuclear facilities would not be targeted.

  2. Explosions Near Isfahan: Iranian state media reported explosions near a major airbase close to the city of Isfahan. Air defense batteries were activated in response. Isfahan is home to sites associated with Iran’s nuclear program, including the underground Natanz enrichment site. State television described all sites in the area as “fully safe” despite the reported explosions.

  3. Suspension of Flights: Dubai-based carriers Emirates and FlyDubai diverted flights around western Iran, suggesting airspace closures. Iran later announced the suspension of flights over some cities.

  4. Escalation Context: Iran previously launched hundreds of drones and cruise missiles toward Israel in response to an Israeli strike on an Iranian diplomatic building in Damascus. Iran’s foreign minister warned that if Israel retaliates, Tehran’s response would be “decisive, definitive, and regretful” for Israel.

As tensions persist, the situation remains fluid, and world leaders are closely monitoring developments in the region. The delicate balance between retaliation and de-escalation hangs in the balance.



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