Canada to Push for Deescalation in Middle East at G-7 Meeting

Canadian Foreign Minister Anita Anand will press G7 foreign ministers to seek a reduction in hostilities in the US- and Israel-led war in Iran amid a global surge in energy prices. The diplomatic push could ease energy-market stress if successful, but near-term upside risk to oil and gas prices and related market volatility remains elevated.

Analysis

Canadian Foreign Minister Anita Anand will press G7 foreign ministers to seek a reduction in hostilities in the US- and Israel-led war in Iran amid a global surge in energy prices. The diplomatic push could ease energy-market stress if successful, but near-term upside risk to oil and gas prices and related market volatility remains elevated.