UAE Oil Tankers Attacked in Strait of Hormuz Amid Regional Tensions

Two oil tankers operated by the United Arab Emirates' state-owned oil company were attacked by drones while traveling through the Strait of Hormuz on Thursday evening. The UAE blamed Iran for the attacks, which caused no casualties but highlighted the precarious situation in the region.

The incidents occurred as crude oil values remained relatively steady in early trade. Canadian manufacturing sales, however, saw a 0.1% increase in June to C$78.8 billion, marking their fifth consecutive gain, according to Statistics Canada.

Wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) rose by 2.8% during the month to C$92.5 billion, representing the fourth increase in five months.