The Globe and Mail reports in its Thursday edition that stocks oscillated on Wednesday, as investors juggled spiking crude prices, central bank interest-rate decisions and a quartet of high-profile earnings released after the closing bell. A Reuters dispatch to The Globe says oil was at the centre of much of the market's attention, spiking to multiweek highs and prompting money markets to price in a higher likelihood of rate hikes in the months ahead in both Canada and the United States. Crude prices jumped after U.S. President Donald Trump told officials to prepare for a prolonged blockade of Iranian ports, which suggests continuing supply pressures owing to restricted traffic in the Strait of Hormuz. Mr. Trump had met with Chevron and other energy companies to talk about possible steps to bring down oil prices. The S&P/TSX Composite Index ended down 265.95 points at 33,318.39. It was the fifth-straight daily decline for the index, the longest losing streak since December, 2024. Industrials lost 1.6 per cent, with shares of CN Rail down 6 per cent after the company's earnings missed estimates. Energy in Toronto added 2.7 per cent as the price of U.S. oil settled nearly 7 per cent higher at $106.88 (U.S.) a barrel.