Oil Jolts Canadian Economy: Iran Blockade Threat Lifts Energy, but Tariff Shadow Looms

The oil market is back in the driver's seat for Canada's economy. After dipping on an IEA demand forecast, crude prices surged 1.92% on Friday after the U.S. threatened an indefinite naval blockade of Iran, tightening supply from the Strait of Hormuz. For Canada's energy sector, this is a shot in the arm: the S&P/TSX Capped Energy Index climbed 1.29% on Thursday, signaling that investors are betting on higher Western Canadian Select prices and stronger provincial...