Canada Commodities: Oil Prices Volatile as Middle East Fighting Resumes

09:53 AM EDT, 09/02/2026 (MT Newswires) -- Oil prices were volatile Wednesday morning as the US military launched several strikes against Iran, with reported fatalities, and Iran attacked several Gulf states and Jordan through drone and missile attacks. West Texas Intermediate October crude oil futures, the US benchmark, fell 0.9% to $89.44 per barrel. November Brent oil futures, the international benchmark, fell 0.4% to $94.27 a barrel. Comex gold December futures reversed its downward trajectory and edged up 0.3% to $4,408.70 per ounce. In agricultural commodities, December wheat futures fell 1% to $7.75 per bushel, while canola futures for November fell 1.3% to C$831.40 per tonne.