Canada Commodities: Oil Prices Lower Friday Morning on Hopes For a Middle East Peace Deal

09:43 AM EDT, 09/25/2026 (MT Newswires) -- Oil prices fell Friday morning as several media outlets reported that US and Iranian negotiators were exploring a diplomatic route to re-open the Strait of Hormuz. West Texas Intermediate November crude oil futures, the US benchmark, fell 1.7% to $93.03 per barrel. November Brent oil futures, the international benchmark, slid 1.1% to $105.36 a barrel. Comex gold December futures edged up 0.7% to $4,328.70 per ounce, but was still set for a weekly loss as the greenback rose and US Treasury yields climbed above 5%. In agricultural commodities, December wheat futures fell 2.8% to $6.87 per bushel, while canola futures for November were 1.4% lower, to CA$817.0 per tonne.