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Weekly Market Snapshot: Mideast Tensions and Chip Selloff Rattle Global Markets (July 13–17)

  Week of July 13–17, 2026 It was a rough week to be a tech investor and a good week to own oil. Escalating conflict between the US and Iran pushed crude sharply higher and rattled global markets, while a fresh wave of selling in semiconductor stocks dragged US and Asian indices lower. Closer to home, the Bank of Canada held its key rate steady, and the TSX—less exposed to chipmakers—held up noticeably better than its US and Asian peers. Here’s how the week broke down across every major market, and what it means for your wallet. 🇨🇦 Canada: TSX Day Close Change Mon, Jul 13 35,252.72 -0.15% Wed, Jul 15 (BoC day) 35,416.20 +0.27% Thu, Jul 16 35,340.15 -0.21% Fri, Jul 17 ~35,262 -0.22% Week total (Fri-to-Fri) — ~flat (about -0.1%) The TSX had a choppy but ultimately quiet week compared with its global peers. Monday's session opened with the Strait of Hormuz blockade headlines and closed lower. Wednesday brought a relief rally after the Bank of Canada's rate hold, with financials ...
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Ukrainian Drone Strike Ignites Blaze at Russian Oil Refinery

                                                   Smoke and fire rise from an industrial facility, in Saratov.

In a bold escalation of its campaign to disrupt Russian military logistics, Ukraine's Armed Forces confirmed a drone strike on the Saratov oil refinery overnight on August 9–10. The refinery, located in Russia’s Saratov Oblast, is considered a key fuel infrastructure facility, supplying petroleum products to Russian forces engaged in the war against Ukraine.

According to Ukraine’s General Staff, the attack was carried out by the Unmanned Systems Forces in coordination with other defense units. The strike triggered multiple explosions and a significant fire at the refinery complex, which has an annual processing capacity of up to 7 million tonnes of oil.

Ukraine emphasized that such operations are part of a broader strategy to weaken Russia’s military and economic capabilities. “A just peace is closer with every target struck on the territory of the Russian Federation that is involved in its criminal war against Ukraine,” the General Staff stated.

The incident marks another chapter in the intensifying drone warfare between the two nations, as Ukraine continues to target strategic assets deep within Russian territory.


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