(RTTNews) - Lower Canadian and U.S. futures and weak precious metals prices point to a negative start for the Canadian market on Monday. Additionally, sharply higher oil prices have triggered inflation concerns. Oil prices have moved up sharply following U.S. President Donald Trump rejecting Iran's latest proposal to reopen the Strait of Hormuz and signaling possible new military strikes after midterm elections. Iran's Foreign Minister Abbas Araghchi expressed hopes for a diplomatic solution, but warned the country is prepared for war with the United States to resume. West Texas Intermediate Crude oil futures climbed to $96.54 a barrel before easing to $95.10, still up nearly 3% from previous close. Gold futures are down $134.50 or about 3.
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