The S&P/TSX Composite Index edged lower on Tuesday as fading hopes for a US-Iran peace deal lifted oil prices and weakened risk appetite. Oil prices advanced after renewed disagreements between Iran and the US over a proposed peace framework revived concerns about supply disruptions, keeping stagflation fears in focus. Banks traded lower, with BMO down 1% and TD Bank losing 0.5%. BMO announced an agreement to sell its transportation and vendor finance businesses to Stonepeak. Meanwhile, gold prices declined as a stronger US dollar and inflation data that came in slightly above expectations clouded the outlook for US interest rates. Barrick and WPM both fell more than 1%. Elsewhere, Chemtrade Logistics dropped nearly 5% after reporting first-quarter results below estimates, while Organigram plunged more than 14% following a sharper-than-expected decline in net revenue. Constellation Software (-0.4%) and Franco-Nevada (-0.5%) are set to release Q1 2026 earnings after the close.