S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
- WTI rises amid an intensifying naval blockade of Iranian ports.
- Canada’s oil sector draws renewed major interest as Middle East tensions boost its appeal to global operators.
- President Trump said Wednesday that the naval blockade on Iran will continue until Tehran agrees to a nuclear deal.
West Texas Intermediate (WTI) oil price extends its gains for the fourth consecutive day, trading around $105.70 per barrel during the Asian hours on Thursday. Crude oil prices climb as a deepening naval blockade of Iranian ports.
US President Donald Trump stated on Wednesday that the naval blockade of Iran will remain in place until a deal is reached with Tehran over its nuclear program, according to Bloomberg. He dismissed proposals to reopen the key shipping route, arguing that economic pressure is more effective than military strikes.
Iranian officials have warned of retaliation if the blockade continues, accusing Trump of trying to force Tehran into compliance through economic coercion and internal destabilization efforts.
Data from the US Energy Information Administration (EIA) showed crude inventories fell sharply by 6.233 million barrels in the week ending April 24, reversing the previous increase of 1.925 million barrels. At the same time, oil exports jumped to record levels above 6 million barrels per day, pointing to tightening global supply conditions.
Canada’s oil and gas sector is drawing renewed interest from global energy majors as rising Middle East tensions boost its attractiveness to major operators. Shell’s $16.4 billion acquisition of ARC Resources highlights this trend, while TotalEnergies and ConocoPhillips are re-evaluating Canadian peers alongside Equinor and BP.
