Canada Commodities: Oil Prices Lower as Middle East Crude Exports Rise

MT newswire2026/10/06 13:55

09:55 AM EDT, 10/06/2026 (MT Newswires) -- Oil prices were lower Tuesday morning as Middle East crude exports rose, with several media outlets noting that exports touched pre-war levels on several days in the last week of September. However, the UK Maritime Traffic Operations said on Monday that it had received a report of an attack on an oil tanker transiting through the Strait of Hormuz. The vessel was struck by an "unknown projectile". West Texas Intermediate November crude oil futures, the US benchmark, fell 1.5% to $88.06 per barrel. December Brent oil futures, the international benchmark, fell 2.2% to $98.07 a barrel. Comex gold December futures continue to edge up. The precious metal was last seen 0.9% higher, to to $4,193.90 per ounce as expectations for a rate hike in October retreated. US 10-year and 30-year bond yields also inched down this morning. In agricultural commodities, December wheat futures advanced 0.9% to $6.98 per bushel, while canola futures for November was down 0.05% to CA$819.00 per tonne.

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