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Iran Names Khamenei’s Son Leader

Iran’s Assembly of Experts named Mojtaba Khamenei as the country’s third supreme leader on March 8, 2026, installing the 56-year-old son of the assassinated Ayatollah Ali Khamenei just eight days into the US-Israeli military campaign aimed at toppling the Islamic Republic.

The 88-member clerical body announced the selection in a “decisive vote,” with the Islamic Revolutionary Guard Corps quickly pledging full allegiance. The appointment hands Washington and Tel Aviv a direct answer to Operation Epic Fury’s central question — whether sustained bombardment could fracture the Iranian establishment. So far, the answer is no.

You can read more on the matter here.

What’s going on?

• BC Tribunal Rules Snowstorm Not An “Act Of God” In Tim Hortons Delivery Case (theDeepDive)

• Feds announce nearly $1 billion for domestic defence innovation, including Bombardier aircraft (CTV)

• Analysis Points To US In Iran School Blast Killing At Least 165, Children (theDeepDive)

• Port of Vancouver handles record amount of cargo, bolstered by China (Globe)

• Japan Moves to Tap Oil Reserves as Iran War Shuts the Strait of Hormuz (theDeepDive)

• Anthropic sues the Pentagon over being declared a ‘supply chain risk’ (FT)

• Hormuz Disruption Risks Record 9 Million bpd Oil Loss By Month-End (theDeepDive)

• Trump Sons Back New Drone Company Targeting Pentagon Sales (WSJ)

• Carney Calls 3 Byelections That Could Give Liberals Majority (theDeepDive)

What’s the latest?

• Oil: Oil prices surged above US$100/barrel (now ~US$96), more than 40% higher than pre-conflict levels due to Middle East war disruptions. Analyst Al Salazar raised his 2026 WTI forecast from $61 to well above $70 per barrel. Higher prices could boost revenues in oil provinces like Alberta but act as a drag on consumers and broader economic growth.

• Airlines: Airline stocks dropped as oil surged ~15% to above US$105/barrel (Brent briefly +29%), with some jet fuel prices doubling since the Iran conflict began. Ticket prices spiked sharply (e.g., Seoul–London $564 → $4,359, L.A.–Lima $499 → $2,125) while 40,000+ Middle East flights were canceled. Fuel—normally 20–25% of airline costs—is squeezing margins and could force carriers to ground aircraft or cut operations if prices stay elevated. Analysts warn travel demand could weaken through 2026 due to higher fares and uncertainty.

• Real Estate: Average asking rents in Canada fell to $2,030 in February, down 2.8% year-over-year and 1.3% month-over-month, marking the 17th straight annual decline. Condo rents dropped 5.1% YoY, while purpose-built apartment rents fell 1.9% YoY. Provincial declines were led by Alberta (−4.4%), Ontario (−4.3%), B.C. (−4.2%), and Quebec (−2.7%). National rents are now 7.4% lower than two years ago, though still 2.3% above three years ago.

• Markets: Canada’s TSX fell 296 points to 32,787, while U.S. markets also declined (Dow −351, S&P 500 −31, Nasdaq −44). Oil surged $7.65 to $98.55/barrel after earlier nearing $120 following Iranian attacks on Bahrain’s refinery and Israeli strikes in Tehran. The Canadian dollar strengthened slightly to 73.59¢ US, while gold fell $63 to $5,095.70/oz.

• Energy: Putin warned the Iran war could halt oil flows through the Strait of Hormuz, which handles ~20% of global oil and LNG shipments, triggering a global energy crisis. Oil prices have surpassed $100/barrel, the highest since 2022. Russia, the world’s #2 oil exporter, said it’s open to renewed energy cooperation with Europe, though EU dependence on Russian gas has fallen from >40% pre-Ukraine war to ~13% in 2025. Oil and gas account for about 25% of Russia’s federal revenue.

Is Gold Entering a New 15-Year Cycle?

The stock market and stuff

• G Mining Sees La Mancha Invest $427 Million To Increase Stake To 19.9% (theDeepDive)

• Oil Retreats From $118 High as G7 Weighs Biggest Reserve Release in History (theDeepDive)

• Small investors become dip buyers as energy shock sinks stocks (Reuters)

• Precious Metals Dominate Latest S&P/TSX Composite Index Rebalancing (theDeepDive)

• Gold Slides as Oil Surges Past $110, Fueling Inflation Fears and Margin Calls (theDeepDive)

In the juniors

• Can Historic Silver Data Turn Into a New Mine? | Rob Macdonald – Equity Metals (theDeepDive)

• Nobel Resources Identifies New Mineralized Porphyry Copper System, Cuprita Project, Chile (JMN)

• First Mining Expands Miroir Discovery, Drills 7.18 g/t Gold Over 8 Metres (theDeepDive)

FULL DISCLOSURE: Canadian Copper is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Canadian Copper. The author has been compensated to cover Canadian Copper on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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