March 30 (Reuters) - Futures tied to Canada's resources-heavy stock index edged higher on Monday, as commodity prices climbed amid a widening U.S.-Israeli war with Iran that has entered its fifth week.
June futures on the S&P/TSX composite index were up 0.7%, as of 05:02 a.m. ET.
* The risk of a wider Iran war intensified on Saturday asYemen's Iran-aligned Houthi rebels launched their first missileattack on Israel since the conflict began, marking a dangerousexpansion of the battlefield. * Brent crude has surged 59% so far this month, its sharpestmonthly rally on record and even stronger than the gains seenduring the 1990 Gulf War. [O/R] * The rally pushed futures above $116 a barrel on Monday,underscoring the intensity of the supply shock and heightenedgeopolitical tensions. * Gold rose, supported by a weaker dollar and value-buying.[GOL/] * Market participants now expect the Bank of Canada todeliver three rate hikes this year, compared with earlier betsthat policy would remain unchanged. * Canada's main stock index climbed 2.1% last week,rebounding after three straight weeks of losses. March could beits worst month since June 2022 if broader losses hold.
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(Reporting by Rashika Singh in Bengaluru; Editing by Subhranshu Sahu)
