Stocks in the energy sector rallied alongside oil prices, as Brent crude rode nearly 5% to $103 a barrel.

U.S. crude futures rose as the Pentagon sent a third aircraft-carrier strike group and more troops to the Middle East while President Trump considers renewed strikes on Iran.

Shares of Enerflex rose sharply after the energy infrastructure company secured a contract to engineer and assemble natural gas-fired generators for a North American data center developer.

As Canadian Prime Minister Carney lauded the benefits of a proposed new oil pipeline to the country's west coast, opposition parties offered critical assessments. Carney designated the pipeline a project of national interest, which he forecast would create 140,000 jobs and generate over C$20 billion in GDP a year. New Democratic Party leader Avi Lewis, however, says the government was throwing billions in public money beyond a pipeline at a time of climate breakdown, "while sweeping aside environmental protections."