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5 Things to Know Today: G7 Oil Release, Pipeline Fast-Track and Ontario's N1 Deadline (Oct. 3)

  Canadian Money Brief • Saturday, October 3, 2026 Markets are closed for the weekend, so here is what moved on Friday and what it means for your wallet as the week turns. Five things worth knowing today. 1. The G7 Is Releasing 100 Million Barrels of Oil and Fuel G7 leaders, Canada included, agreed Friday to release 100 million barrels of crude and refined products from emergency reserves over the next four months, with a front-loaded diesel release in the first 20 days. Washington had been pressing allies to act as fuel prices climbed. Oil barely budged on the news: Brent settled at US$102.25 a barrel and WTI at US$91.11, down US$1.76. Analysts noted it is not yet clear whether the 100 million barrels is new supply or the tail end of the release pledged in March. What it means for you: Diesel comes first, which matters more for freight and grocery costs than for your gas tank. With Brent still around US$100, do not count on a quick drop at the pump. 2. A Weak U.S. Jobs Report Shi...
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S&P/TSX Composite Index Surges: Canadian Markets Rally Alongside U.S. Stocks

 

In a robust trading session, the S&P/TSX composite index soared by nearly 200 points on Wednesday, fueled by broad-based strength across various sectors. Simultaneously, U.S. markets also experienced gains, with the Dow Jones industrial average leading the charge.

Key Highlights:

  1. Canadian Surge: The S&P/TSX composite index closed up 194.56 points at 22,107.08, reflecting the bullish sentiment in the Canadian market. Notably, base metals and industrials played a pivotal role in driving this upward trajectory.

  2. U.S. Market Momentum: Across the border, U.S. markets followed suit. The Dow Jones industrial average surged by 477.75 points, reaching 39,760.08. Meanwhile, the S&P 500 index climbed 44.91 points to 5,248.49, and the Nasdaq composite gained 83.82 points, closing at 16,399.52.

  3. Currency and Commodities: The Canadian dollar traded at 73.60 cents U.S., slightly lower than the previous day. Crude oil prices dipped, with the May contract down 27 cents at US$81.35 per barrel. Natural gas also saw a decline, with the May contract down seven cents at US$1.72 per mmBTU. On the other hand, gold prices rose, with the June contract up US$13.50 at US$2,212.70 per ounce, while copper remained steady at US$4 per pound.

This bullish momentum reflects investor optimism and economic resilience, even amidst global uncertainties. As we move forward, market participants will closely monitor developments and continue to assess the impact of various factors on stock performance.


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