Canada Commodities: Oil Prices Rise as Fighting Escalates in The Middle East

09:55 AM EDT, 10/16/2026 (MT Newswires) -- Oil prices rose Friday morning as fighting escalated in the Middle East on several fronts. Iran's Acting Oil Minister Hamid Bovard also vowed that Iran would retaliate against any attacks on energy facilities, Al Jazeera reported. West Texas Intermediate November crude oil futures, the US benchmark, rose 0.3% to $98.23 per barrel. December Brent oil futures, the international benchmark, edged up 0.1% to $106.01 a barrel. Comex gold December futures advanced 0.4%, to to $4,193.30 per ounce as the US dollar index trended lower this week. In agricultural commodities, December wheat futures fell 1.2% to $6.62 per bushel, while canola futures for January fell 0.1% to CA$812.70 per tonne