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Gas Prices Are Spiking Again — Here's How to Protect Your Wallet as the Iran Conflict Escalates

  Published July 20, 2026 If it feels like you're filling up more often for the same money lately, you're not imagining it. Oil markets jolted higher to start the week, and Canadian drivers are almost certain to see it at the pump in the next few days. What just happened Brent crude — the global benchmark that drives Canadian gas pricing — jumped nearly 4% on Monday to trade above US$90 a barrel, its highest level since mid-June, while U.S. West Texas Intermediate traded near US$84. The move came after the United States and Iran escalated hostilities over the weekend, including strikes on vessels attempting to transit the Strait of Hormuz and an attack on an oil facility in Kuwait. That strait matters enormously to your gas bill: roughly a fifth of the world's oil supply normally passes through it. When shipping through it slows or stalls, traders price in a "risk premium" almost immediately — and that shows up at Canadian pumps within days, not weeks. What it mea...
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US stocks hope for economic stability after record highs

 


The US stock market has been on a roll this year, with the S&P 500 index up by 17% and hovering around 6% below its record high from January 2022. The market’s performance in the coming weeks will depend on how confident investors are that the US economy will experience a soft landing..

A soft landing is a scenario where the economy slows down moderately without going into a recession . Morgan Stanley Research believes that the US economy can achieve a soft landing, given the current housing cycle, income and spending trends, a stable labor market, and receding inflation. However, banking-sector turmoil and a resulting credit squeeze still pose some recession risk.

The recent stock market rally has Wall Street re-examining the potential for the US economy to pull off a soft landing scenario. Goldman Sachs expects the economy to react positively to the Fed’s monetary policy in 2024.

It’s worth noting that the stock market is not always a reliable indicator of the economy’s health. Therefore, investors should be cautious and not celebrate too soon.



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