Scotiabank CEO Scott Thomson said ongoing tensions in the Middle East are underscoring the strategic value of reliable suppliers and may support long-term demand for Canadian oil exports. The remarks come as global crude benchmarks such as Oil – Brent Crude remain sensitive to geopolitical risk premia and potential supply disruptions.
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Over the past month, Brent has fallen about 6.6%, reflecting easing immediate supply fears and concerns over global growth, even as structural security-of-supply themes gain prominence. From a shorter-term perspective, Brent’s 1-day technical outlook screens as a cautious Hold, suggesting traders are waiting for clearer signals on both geopolitics and demand.
Investors can explore more updates, prices, and analysis across global markets at Commodities.