June 8 (Reuters) - Futures tracking Canada's blue-chip stocks edged higher on Monday as oil prices rose after renewed Israeli strikes on Iran and fresh attacks on Lebanon soured hopes of an imminent end to the U.S.-Iran war.
June futures on the S&P/TSX index were up 0.3% at 6:16 a.m. ET (1016 GMT).
o Israel said on Monday it hit a petrochemical plant in Iran's southwest, along with strikes elsewhere on military targets, after U.S. President Donald Trump reportedly told Israeli Prime Minister Benjamin Netanyahu to refrain from further attacks.
o Oil prices rose near 5% as investors reacted to the latest strikes and renewed attacks in Lebanon a day earlier. [O/R]
o Spot gold and silver slipped 0.8% and 1.2%, respectively, after strong U.S. jobs data lifted expectations of a Federal Reserve rate hike, while rising oil added to inflation worries. [GOL/]
o Canada's S&P/TSX Composite Index posted its biggest drop since February 12 on Friday, retreating from a record high as weaker commodities and Fed rate hike bets hurt sentiment.
o Investors will closely watch the Bank of Canada's interest rate decision due on Wednesday for cues on the policy outlook.
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(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Sahal Muhammed)
