2026.10.0512:59:56UTC+00TSX Futures Rise as Oil Prices Retreat

Futures tracking Canada’s main stock index inched higher on Monday as easing oil prices tempered inflation concerns. Crude retreated after flows through the Strait of Hormuz normalized and the G7 announced a fresh release from emergency reserves, both of which weighed on prices. The pause in the oil rally offered relief to credit-sensitive stocks that had been under pressure from energy-driven inflation fears. Sentiment was further supported by Friday’s softer-than-expected US jobs report, which lowered the perceived likelihood of an imminent interest-rate increase by the Federal Reserve.

Although the probability of an October rate hike by the Bank of Canada has declined, markets still anticipate at least one additional increase before the end of 2026. Rising gold prices provided a tailwind for mining shares. In corporate news, Suncor agreed to sell its stakes in three offshore oil assets to Ithaca, while Cenovus announced it would acquire Athabasca Oil in a cash-and-stock deal.