Canadian stocks may open on a weak note Thursday morning amid renewed concerns about Middle East war as Iran halted the passage of oil tankers through the Strait of Hormuz after accusing the United States of violating three clauses of the 10-Point Proposal.
Oil prices moved up sharply, raising concerns about inflation and monetary tightening by central banks.
West Texas Intermediate Crude oil futures are up $4.58 or 4.85% at $98.99 a barrel.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.