Oil Prices Surge to Wartime High Amid Iran Conflict
Crude oil prices have reached a wartime high, driving up Canadian gas prices as tensions escalate in the Middle East. Iran fired on three cargo ships in the Strait of Hormuz, despite a U.S. ceasefire extension, raising fears of supply disruptions. Analysts predict crude could surge to around US$150 per barrel, according to TD.
Meanwhile, the U.S. military inventory is at its 'lowest point' as the conflict with Iran rages on, raising concerns about readiness. Uncertainty surrounds Iran-U.S. peace talks, with experts saying 'it's still anyone's guess' about the outcome.
Canadian Gas Prices Rise
Pump prices are climbing again, with gas set to rise 12 cents in two days. The S&P/TSX composite index climbed nearly 400 points, while U.S. stock markets also rose. Precision Drilling shares dropped after first-quarter earnings missed expectations.
Other News Highlights
- Toronto dominates list of Canada's best bars, with 21 local watering holes making the cut.
- CNE unveils first wave of summer concert headliners for Toronto.
- PM Carney names former minister as next EU ambassador.
- Calgary police search for suspects after car set on fire in Saddle Ridge.
- Near-record snowpack in the Rockies means dangerous conditions for spring hikers.
- Supreme Court to hear appeal of jail sentence for man who stole Churchill portrait from Ottawa hotel.
- Olivia Rodrigo coming to Montreal with 'The Unraveled Tour'.
- Hydro-Quebec strikes bolt from its logo to jinx the Lightning.
- 120 km/h speed limit trial implemented on section of Highway 2.
- Oilers set for must-win Game 6 against Ducks in Anaheim.
Business and Economy
Companies with cannabis-based drugs eye IPOs and private funding boost after U.S. reclassification. Trump says he is weighing reducing American troop presence in Germany after Iran feud. The spring economic update includes proposed law changes tucked into the budget.
Health and Science
Trump administration appeals court order to cut vaccine recommendations for kids. Generic weight-loss drug approval is 'really good news,' but doctors warn of long-term consequences. A genome study reveals what happened after the Roman Empire fell.
Entertainment and Lifestyle
Singer-songwriter behind several country hits dies at 86. Spotify rolls out badge to distinguish human artists from AI. Banksy confirms a new statue in London of a man blinded by a flag is his work. A father and daughter duped NYC's art world with fake Warhols and Banksys.
