Oil lifts TSX higher, but Wall Street sinks

Melisa R. H. Posted On March 27, 2026

As the US-Israel-Iran war rages and little oil escapes the Strait of Hormuz, the price of black gold, WTI, spiked 5.75% to flirt with US$100. That and a surge by materials helped raise the TSX to nearly 32,000 in Friday after gaining 0.23% or 73 points, and over 2% for the week. However, the Wall Street indices sank on Friday and for the week. The S&P closed -1.27% for the session, the Nasdaq -2.15% and the Dow -1.73%. For the week, the S&P and Nasdaq shed around 2.15% while the Dow slipped 1.75%.

Materials was the other winning sector on Bay Street as silver jumped 2.85% to nearly US$70 and gold climbed about 3% to US$4,505. Key names in Toronto included CNQ up 2.87%, Baytex 2.39%, Methanex 9.96%, MDA Space -6.58% and ATS -5.05%. Tech suffered serious losses in New York: Nvidia -2.17%, Amazon -3.95% and Datadog -7.9% while Moderna posted -7.49% and Coinbase -7.06%. Bitcoin continued to struggle as it slid 4.35% to US$66,000, and the U.S. 10-year yield edged higher to 4.432%.