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Oil Breaks $90 as Mideast Conflict Escalates: Markets Today

  Monday, July 20, 2026 Crude oil is the story investors are watching to start the week. Brent crude jumped roughly 3% and pushed past US$90 a barrel overnight — its highest level since June — after the United States and Iran escalated attacks in the Middle East over the weekend, curbing tanker traffic through the Strait of Hormuz. U.S. equity futures are pointing higher after Friday's tech-led selloff, European stocks opened mixed, and the Canadian dollar is getting a modest lift from firmer crude. Here's where every major market stood heading into today's session. 🇨🇦 TSX & Canadian Dollar Index / Asset Last Close Change S&P/TSX Composite 35,263.85 −76.30 (−0.22%) USD/CAD 1.4020 −0.10% (loonie firmer) The TSX closed Friday's session modestly lower, with financials and materials offsetting continued strength in energy names. The loonie is holding near its best levels in about a month, at roughly 1.40 per U.S. dollar, as Canada's status as a major oil expor...
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Wall Street Holds Steady Amid Trump's Tariff Threats

                                       

US stocks showed resilience on Tuesday as investors weighed President-elect Donald Trump's threat to impose fresh tariffs on China, Canada, and Mexico. The S&P 500 inched up roughly 0.3%, while the tech-heavy Nasdaq Composite jumped about 0.4%. However, the Dow Jones Industrial Average dropped 0.3% after hitting a record high.

Trump's pledge to impose tariffs from his first day in office initially sparked trade war fears, but Wall Street seemed to take the news in stride, holding onto gains from Monday's Bessent-bounce. Investors are now closely watching the release of Federal Reserve minutes for clues on the pace of interest rate cuts in the coming year.

European carmakers, particularly Nissan and Honda, faced pressure due to Trump's "America First" push, while the Mexican peso and Canadian dollar dropped sharply. Meanwhile, bitcoin retreated to trade around $92,840 per token as its bid for the $100,000 milestone ran out of steam.




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