Oil Surge Lifts Canadian Energy Sector While Broader Market Sinks -- Market Talk

Dow Jones03-09

1050 ET - Canadian energy stocks lead the market Monday as a blocked Strait of Hormuz sends oil prices surging past $100 a barrel, lifting producers even as broader sentiment soured. The war in the Middle East intensified over the weekend, freezing one of the world's most critical shipping corridors and driving investors toward oil names. The rest of the Canadian market was broadly weaker, with major commodity miners slumping alongside global risk assets, while airlines such as Air Canada and Transat fall on fears that higher fuel costs will squeeze margins. Business-jet maker Bombardier and air-cargo company Cargojet were also notable decliners as geopolitical tensions and rising energy prices ripple through the market. (adriano.marchese@wsj.com)

(END) Dow Jones Newswires

March 09, 2026 10:50 ET (14:50 GMT)

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