Futures tracking the S&P/TSX Composite edged higher on Thursday, supported by growing expectations of a near-term peace deal between the US and Iran. Oil prices declined as a potential agreement could lead to a gradual reopening of the Strait of Hormuz, easing concerns over inflation and supporting banks and the broader index. Gold prices rose as fears of persistent inflation and prolonged high interest rates softened, lifting mining stocks. On the earnings front, Canadian Natural Resources beat expectations for first-quarter profit, supported by higher production. Enerflex reported a 6% increase in Q1 revenue on strength in engineered systems, while Cascades posted quarterly sales slightly below analysts’ forecasts. Wheaton Precious Metals is set to release its Q1 2026 results later in the day.