Canadian sales of petroleum and coal products surged 22.7 percent in March, reaching $9.4 billion - the highest level since September 2023, according to Statistics Canada.
The jump is tied to rising prices amid heightened geopolitical tensions in the Middle East, which have disrupted energy markets and shipping routes through the Strait of Hormuz. Energy and petroleum product prices grew 27.4 percent during the month.
Manufacturing sales increased in eight provinces, with Ontario and Alberta posting the largest gains. Ontario saw a 2.2 percent rise to $31.4 billion, driven by transportation equipment and petroleum products. Alberta's sales climbed 4.4 percent to $8.9 billion, led by chemicals and petroleum products.
The data highlights how ongoing instability in the region continues to ripple through global energy markets.