FX.co ★ Canadian Futures Hold Records on Oil Support

Futures tied to the S&P/TSX Composite Index remained steady on Tuesday, following a positive session that pushed the index to a new all-time high of 32,875, largely driven by gains in resource-linked stocks. Oil companies enjoyed support from the ongoing rise in benchmark crude oil prices, as persistent geopolitical tensions in Iran fueled concerns over potential supply disruptions from the region. Additionally, some unease lingered in the markets regarding the potential impact of Venezuelan oil on Canadian energy exports. This caution was echoed by US oil producers and refiners, who have expressed apprehension about investing in new ventures in Venezuela. Meanwhile, gold miners saw little movement as gold prices remained at their peak levels.