TSX Index Falls 0.45% as WTI Jumps 7.86% to $101.83
Canada’s S&P/TSX Composite slid 150.94 points (0.45%) and the TSX 60 dropped 8.66 points to 1,944.53 as crude oil WTI futures surged 7.86% to $101.83 per barrel. The February PCE price index rose 3% year-over-year and XAU/USD gold climbed to $4,768.47 per ounce.
1. TSX Composite Retreats
Canada’s main stock gauge slid 150.94 points (0.45%), while the TSX 60 index fell 8.66 points to 1,944.53 as investors reassessed risk on renewed energy market volatility.
2. Crude Oil Prices Rebound
WTI futures climbed 7.86% to $101.83 per barrel and Brent approached the $100 mark as disruptions in the Strait of Hormuz and halted tanker passages heightened supply concerns.
3. Inflation Gauge Exceeds Fed Target
The February personal consumption expenditures price index rose 3% year-over-year, well above the Federal Reserve’s 2% goal, reinforcing expectations for sustained monetary tightening.
4. Gold Advances on Risk Aversion
XAU/USD gold rose nearly $50 to $4,768.47 per ounce as geopolitical tensions and market uncertainty drove demand for safe-haven assets.