TSX Touches Record High Amid Oil Price Surge

The Toronto Stock Exchange (TSX) closed at a fresh record high on Monday, August 10th, with the S&P/TSX Composite Index rising approximately 77 points or 0.21% to end the session near 36,458.

This marks the index's fifth consecutive day of gains and comes as surging oil prices boost energy stocks even as major US indices closed lower on the session.

The TSX's strength is largely due to its substantial weighting toward energy and materials companies, which are benefiting from the firmer commodity backdrop. Brent crude gained roughly 1% to $84.42 a barrel, while US benchmark crude advanced similarly amid renewed uncertainty over the Strait of Hormuz negotiations.