TORONTO — Stock markets in Canada and the U.S. moved lower on Thursday as oil prices fluctuated amid hopes for a deal between the U.S. and Iran.
The hope is that an end to the war will reopen the Strait of Hormuz and allow oil tankers trapped in the Persian Gulf to deliver crude again to customers. Oil and gasoline are still much more expensive than they were before the war began because of the strait’s closure.
Allan Small, senior investment adviser at iA Private Wealth, said markets were giving back some of their recent gains.
“Sometimes markets drop just based on profit-taking. When we heard yesterday, for
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