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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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ExxonMobil’s Ionian Sea Deal Strengthens U.S. Energy Role in Europe

Under the deal, Exxon will partner with Energean, whose flagship gas fields are located offshore Israel, and Helleniq to explore for natural gas in Block 2 offshore Western Greece.

ExxonMobil has taken a significant step into the eastern Mediterranean energy landscape by signing a new agreement to explore for natural gas offshore Greece. The deal marks a strategic expansion of the U.S. energy footprint in the region at a time when Europe is seeking alternatives to Russian gas supplies.

Under the agreement, ExxonMobil will partner with Energean and Helleniq Energy to explore Block 2 in the Ionian Sea, located northwest of Corfu. The concession covers more than 2,400 square kilometers and is considered one of Greece’s most promising offshore prospects. Preliminary estimates suggest potential reserves of up to 200 billion cubic meters of natural gas, though exploratory drilling will not begin until late 2026 or early 2027.

For Greece, the agreement is seen as a vote of confidence in its role as a regional energy hub, boosting its geopolitical importance while potentially unlocking new domestic resources. Energean will remain the operator during the exploration phase, but ExxonMobil is expected to assume control if commercial discoveries are made.

This move underscores ExxonMobil’s global strategy of diversifying its exploration portfolio while aligning with U.S. energy diplomacy. If successful, the Ionian Sea project could reshape the energy map of southern Europe, offering both economic and strategic benefits to Greece and its partners.



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