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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...
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Ceasefire Wavers as U.S. Seizes Iranian Ship and Tehran Rejects New Talks

U.S. Navy intercepts an Iranian cargo vessel in the Arabian Sea, escalating tensions and putting the fragile ceasefire at risk.

A fragile U.S.–Iran ceasefire is under renewed strain after the U.S. Navy seized an Iranian‑flagged cargo ship in the Arabian Sea, prompting Tehran to reject participation in new peace talks and warn of retaliation. 

Iranian officials accused Washington of “armed piracy” after U.S. Marines boarded and disabled the vessel following a six‑hour standoff. Tehran said the ship had been traveling from China and insisted its “defensive capabilities,” including its missile program, were not up for negotiation. 

The U.S. had hoped to restart negotiations in Pakistan before the two‑week ceasefire expires, but Iran’s foreign ministry said Washington was “not serious” about diplomacy and was insisting on “unreasonable and unrealistic positions.” Pakistani mediators also warned that the ongoing U.S. blockade of Iranian ports remains a major obstacle to progress. 

Markets reacted swiftly. Oil prices jumped more than 6% as traders feared renewed disruptions in the Strait of Hormuz—an artery that handles roughly one‑fifth of global oil and LNG shipments. Stock markets also wobbled on concerns that shipping traffic could again grind to a halt if tensions escalate. 

For Canadian investors, the latest flare‑up underscores the volatility tied to Middle East geopolitics. Energy prices may remain elevated, while broader market sentiment could weaken if ceasefire efforts collapse in the days ahead.



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