Futures linked to the S&P/TSX Composite Index declined on Thursday as investors assessed a renewed spike in oil prices alongside a steep drop in gold. Crude rallied after Iran attacked energy facilities across the Middle East in response to Israel’s strike on its South Pars gas field, reigniting inflation concerns and pushing bond yields higher. The move in oil prices supported energy stocks, which are now up more than 34% year-to-date, but rising yields weighed on credit demand and put pressure on major banks. Hawkish signals from both the US Federal Reserve and the Bank of Canada on Wednesday further undermined sentiment toward the financial sector. At the same time, a stronger US dollar, driven by the more hawkish policy stance, dragged gold prices lower and added to the headwinds facing mining shares.