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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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Moscow Stands Firm on Ukraine Amid Witkoff Leak

 

                                  Witkoff is expected to travel to Moscow next week to discuss the peace plan


Russia has declared it will not make major concessions in ongoing peace negotiations over Ukraine, even as a leaked recording revealed U.S. envoy Steve Witkoff advising Moscow on how to frame proposals to President Donald Trump. The disclosure has sparked controversy, raising questions about the integrity of the diplomatic process and the role of American intermediaries.

The leaked call reportedly showed Witkoff coaching Kremlin aide Yuri Ushakov on how to pitch a peace plan that might appeal to Trump. Russia denounced the leak as an act of "hybrid warfare," claiming it was designed to undermine fragile negotiations. Witkoff, meanwhile, is expected to travel to Moscow next week with other senior U.S. officials to continue discussions on a possible framework to end the nearly four-year war—the deadliest conflict in Europe since World War II.

Ukrainian President Volodymyr Zelenskyy has signaled readiness to advance the U.S.-backed framework but emphasized that disputed points must be resolved with input from European allies. Kyiv and its partners remain wary that leaked details of the plan could tilt too far toward Russian interests.

The episode underscores the deep mistrust surrounding the peace process. While Washington insists its envoy is working toward a viable settlement, critics argue that Witkoff’s advice to Moscow risks legitimizing Russian positions. For its part, the Kremlin has doubled down, insisting that any agreement must reflect its core demands and rejecting the notion of significant concessions.

As Witkoff prepares for high-stakes talks in Moscow, the leak has added fresh tension to already complex negotiations. Whether the U.S. envoy can rebuild trust and steer both sides toward compromise remains uncertain, but the incident highlights the fragile balance between diplomacy, secrecy, and public accountability in efforts to end the war.

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