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The Canadian dollar rose ahead of GDP data as oil climbed 2.3% to $57.82 a barrel after the US Coast Guard began pursuing an oil tanker near Venezuela and Ukraine damaged two vessels and piers in Russia. The loonie traded near 1.3740 per US dollar.
Tanker seizures and attacks on Russian port infrastructure raise oil supply risk, supporting energy prices that feed into feed logistics and processing costs.
reuters.comFergal SmithDec 22, 2025After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
