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TSX Hits Record High as Iran Deal Lifts Markets — Daily Update, June 16, 2026

Oil tumbles on Strait of Hormuz reopening framework. All eyes on the Federal Reserve as Kevin Warsh chairs his first policy meeting. Here is everything moving Canadian wallets today. Tuesday, June 16, 2026  |  MoneySavings.ca 🇨🇦 TSX — Another Record on the Books The S&P/TSX Composite closed at a fresh all-time high on Monday, June 15, topping 35,398 intraday before finishing near the upper end of its range. The index is now up more than 11% year-to-date , the second-best performance among major global indexes tracked through mid-June — behind only Japan's Nikkei (+31%). Monday's rally was broad-based, fuelled by a surge in risk appetite following the announcement of a U.S.–Iran peace framework over the weekend. Energy, financials, and materials all participated, though energy stocks gained somewhat less than the others as crude oil prices simultaneously fell sharply on the Strait of Hormuz reopening news — a rare case where the same headline pushed the index up and one ...

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Alberta Premier Danielle Smith Signals Imminent Deal with Ottawa

Alberta Premier Danielle Smith speaks at the Alberta Municipalities Convention on Nov. 13, 2025. Smith said Thursday that negotiations with Ottawa on a bitumen pipeline are ongoing..

Alberta Premier Danielle Smith says her government is close to finalizing an agreement with Ottawa that could reshape the province’s energy future. Speaking at the Alberta Municipalities Convention, Smith confirmed that negotiations with the federal government are progressing and that a memorandum of understanding is expected to be signed in the coming days.

The deal is centered on Alberta’s push for a new bitumen export pipeline to Asian markets, a project Smith has championed as vital for the province’s economic growth. While the pipeline was not included in Ottawa’s latest list of nation-building projects slated for fast-track approval, Smith emphasized that “sensitive” talks remain underway. Her office noted that the agreement would involve revisiting federal laws that Alberta argues have discouraged private investment in the energy sector.

Smith has tied the timing of the deal to major national events, previously suggesting she hoped it would be finalized by the CFL Grey Cup. Although that deadline has passed, she remains optimistic that Alberta and Ottawa will reach common ground soon. The federal government, meanwhile, has announced a second batch of major projects—including mining and infrastructure initiatives—that could be expedited, signaling its broader commitment to energy and development across Canada.

For Alberta, the stakes are high. A pipeline to the West Coast would open new export routes, reduce reliance on U.S. markets, and strengthen the province’s role in global energy supply. Smith’s government insists that securing federal cooperation is essential to overcoming regulatory hurdles and ensuring the project’s success.

If signed, the agreement could mark a turning point in federal-provincial relations, balancing Ottawa’s environmental priorities with Alberta’s economic ambitions. The coming days will reveal whether both sides can bridge their differences and deliver a deal that reshapes Canada’s energy landscape.


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