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Oil Surges Past $103 as TSX Extends Losing Streak

  Markets are lower this morning as oil surges past US$103 and tech stocks remain under pressure, with the TSX coming off a fourth straight decline. Below is your ready-to-publish Canadian Money Brief update for April 29, 2026 , built from today’s market data and news. TSX slips as oil spikes and global tensions rise The S&P/TSX Composite opened at 33,584 , down 0.69% from yesterday’s close as weakness in tech and materials continues to weigh on the index. Rising geopolitical tensions and renewed uncertainty around the Iran conflict have pushed WTI crude above US$103 , lifting Canadian energy names but not enough to offset broader declines.  U.S. markets are also softer, with the S&P 500 down 0.49% and tech stocks retreating amid renewed AI growth concerns.  Oil rallies on OPEC turmoil Crude prices are up more than 3% , driven by the UAE’s announcement that it will exit OPEC and by expectations of prolonged supply disruptions tied to the Iran war.  ...
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Egypt Pushes Hamas to Consider Trump’s Gaza Peace Proposal

Smoke rises during an Israeli assault as displaced Palestinians fleeing northern Gaza move southward after the army issued forced evacuation orders for residents of Gaza City.

Egyptian Foreign Minister Badr Abdelatty announced that Cairo is working closely with Qatar and Turkey to persuade Hamas to accept U.S. President Donald Trump’s recently unveiled plan aimed at ending the nearly two-year war in Gaza.

Speaking in Paris, Abdelatty warned that if Hamas rejects the proposal, the conflict could escalate further. The Trump plan, outlined in a 20-point document, calls for an immediate ceasefire, a staged Israeli withdrawal from Gaza, the exchange of hostages and prisoners, Hamas disarmament, and the establishment of a transitional government under international oversight.

While Abdelatty expressed broad support for the initiative, he acknowledged that “a lot of holes need to be filled,” particularly regarding governance and security arrangements. He stressed that Egypt would not accept any forced displacement of Palestinians, calling such a scenario “the end of the Palestinian cause.”

The White House has given Hamas only a few days to respond, raising the stakes for regional mediators. Egypt, a key player in past ceasefire negotiations, is intensifying its diplomatic efforts to prevent further bloodshed and push the parties toward a political resolution.


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