TSX falls as US-Iran deal prospects weigh on energy
The TSX fell 0.4 percent as reports of a potential US-Iran deal lowered oil prices. Energy and mining shares led losses. Big lenders reported strong profits.
The S&P/TSX composite index fell 0.4% to 34,507.71 points as energy stocks tracked a decline in crude prices. The resource-heavy index in Canada retreated after reports suggested a potential de-escalation of conflict in the Middle East. Investors are weighing whether strong domestic bank earnings can offset broader commodity volatility and shifting trade dynamics.
### Energy and Mining Lead Market Retreat Energy stocks fell 2.2% following a 4% drop in West Texas Oil prices. This decline followed reports from Iran state TV regarding a draft framework to end the conflict with the United States. The proposed deal would reportedly reopen the Strait of Hormuz to commercial shipping within one month in exchange for the removal of U.S. naval blockades.
