Fog of war looms over oil markets: FP Video

An Iranian civil defence member walks next to a destroyed fuel tanker vehicle near an ongoing fire following an overnight airstrike on the Shahran oil refinery in northwestern Tehran on March 8, 2026. Photo by Bestpix/AFP via Getty ImagesArticle contentAs the war in the Middle East continues, disrupting critical oil exports from the region and driving fuel costs up, FP Video looks at the effect higher oil prices could have on the Canadian energy markets, how long the disruption may last, and what it means for the Bank of Canada and domestic economy. Plus, how gold continues to gain amid geopolitical instability.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentArticle contentHow high oil prices could impact CanadaArticle contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentPosthasteBreaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentOil prices have surged to their highest levels in years as war in the Middle East disrupts supply. That could mean higher gas prices, more pressure on groceries and flights, and new inflation risks for Canadians, even as Alberta’s oil industry and government finances stand to benefit if high prices persist.Article contentWar feeds gold pricesArticle contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentTheo Yameogo, Ernst & Young’s Americas Metals and Mining leader, talks to Financial Post’s Larysa Harapyn about where the price of gold is going.Article contentOil markets haven’t hit crunch point yetArticle contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentRory Johnston, founder of Commodity Context, talks about how it could take oil markets months to heal even if the Iran conflict ended tomorrow.Article contentBank of Canada likely to stand pat in oil crisisArticle contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentDouglas Porter, chief economist at BMO Financial Group, talks about how the energy crisis unfolding in the Middle East could impact Canada’s economy.Article contentTrending Bank of Canada more likely to cut than hike after 'brutal' jobs report, say economists Economy Garry Marr: The pros and cons of doling out inheritance with a warm hand Family Finance Canadians’ average wealth hit $1.07 million, but what’s driving net worth depends on your age, province and bracket Wealth This TSX stock has 30% upside on the company's $11 billion project backlog, analyst says Investor Posthaste: Oil supply shock could force the Bank of Canada's hand yet News Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Bank of Canada more likely to cut than hike after 'brutal' jobs report, say economists Economy Garry Marr: The pros and cons of doling out inheritance with a warm hand Family Finance Canadians’ average wealth hit $1.07 million, but what’s driving net worth depends on your age, province and bracket Wealth This TSX stock has 30% upside on the company's $11 billion project backlog, analyst says Investor Posthaste: Oil supply shock could force the Bank of Canada's hand yet News