March 31 (Reuters) - Futures linked to Canada's main stock index rose on Tuesday as investors balanced hopes of U.S. President Donald Trump ending the Iran war with concerns over supply shocks from a prolonged Strait of Hormuz closure.
June futures on the S&P/TSX composite index were up 0.8% as of 5:39 a.m. ET.
* Trump told aides he was willing to halt the militarycampaign against Iran even if the Strait of Hormuz remainedlargely closed, leaving efforts to reopen the waterway forlater, the Wall Street Journal reported on Monday, citingadministration officials. * He had earlier warned that the United States would"obliterate" Iran's energy plants and oil wells if Tehran failedto restore access to the strait. * Oil prices swung sharply on the shifting geopoliticalsignals. [O/R] * Gold rose on Tuesday but stayed on track for its biggestmonthly drop in over 17 years as investors piled into the dollaramid the Middle East war and rising inflation worries. [GOL/] * The conflict has revived concerns about a fresh inflationhit to the global economy, with central banks, including theBank of Canada to reassess policy, with traders now pricing innearly four rate hikes by year-end. * Canada's main stock index is on track to close the firstquarter with slim gains, its weakest performence in about twoyears, if broader losses hold through the end of the session. * The benchmark is down about 7% for the month, poised forits worst showing since June 2022.
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(Reporting by Rashika Singh in Bengaluru)
