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How the Strait of Hormuz Crisis Is Hitting Your Wallet Right Now

Published May 17, 2026  |  Category: Oil Prices & Energy  |  By MoneySavings.ca If you've winced lately at the gas pump or noticed your grocery bill creeping up, you're not imagining it. A geopolitical crisis unfolding halfway around the world — at a narrow strip of water between Iran and Oman — is directly squeezing Canadian budgets. Here's everything you need to know, and what you can do about it. What Is the Strait of Hormuz? The Strait of Hormuz is a narrow waterway just 33 kilometres wide at its tightest point, connecting the Persian Gulf to the open ocean. Despite its modest size, it is the world's single most critical energy chokepoint. Before this crisis, roughly 20 million barrels of oil moved through it every single day — about 20% of all the world's seaborne oil supply, plus significant volumes of liquefied natural gas (LNG). Think of it as the world's energy jugular vein. When it gets blocked, the entire planet feels it. What Happened? On Februa...
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Beef and Broccoli

 


ender strips of steak with crisp broccoli in a rich brown sauce, beef with broccoli is a weeknight favorite.

Ingredients:

  • 1 lb. flat iron steak, sliced into 1/4-inch thick pieces
  • 4 tablespoons soy sauce, divided
  • 4 tablespoons Shaoxing wine or dry sherry, divided
  • 1/4 cup cornstarch
  • 2 tablespoons oyster sauce
  • 1/2 cup chicken broth
  • 1 tablespoon sugar
  • 1 teaspoon sesame oil
  • 3 tablespoons vegetable oil, divided
  • 1 lb. broccoli, cut into small florets
  • 3 scallions, white and green parts separated and thinly sliced
  • 2 cloves garlic, minced
  • 1 tablespoon minced fresh ginger

Instructions:

  1. Combine the beef with 1 tablespoon of the soy sauce and 1 tablespoon of the Shaoxing wine (or dry sherry) in a bowl and toss to coat. Let marinate for 30 minutes at room temperature or 1 hour in the refrigerator.
  2. Meanwhile, combine the remaining 3 tablespoons of soy sauce with the cornstarch and stir with a fork until the cornstarch is dissolved. Add the remaining 3 tablespoons of Shaoxing wine (or dry sherry), oyster sauce, chicken broth, sugar, and sesame oil. Stir and set aside.
  3. When you’re ready to cook, heat 1 tablespoon of oil in a large sauté pan or wok over high heat until smoking. Add the broccoli and stir-fry for 30 seconds, then add the water. Cover the pan with a lid (or tightly with foil) and lower the heat to medium; steam the broccoli until tender-crisp, about 2 minutes, then transfer to a paper towel–lined plate.
  4. Wipe any excess water out of the pan. Increase the heat to high and heat another tablespoon of oil in the pan until smoking. Add half of the beef, so that it is in a single layer, and cook without moving until the beef is well seared, about 1½ minutes. Continue cooking while stirring until the beef is lightly cooked but still pink in spots, about 30 seconds. Transfer to a plate.
  5. Add another tablespoon of oil to the pan and heat until smoking. Add the remaining beef and cook without moving until the beef is well seared, about 1½ minutes. Add the scallion whites, garlic and ginger mixture and cook, stirring constantly with the beef, for about 30 seconds.
  6. Return the reserved beef and broccoli to the pan, along with the reserved sauce and scallion greens. Bring to boil and cook, tossing and stirring constantly until the sauce is lightly thickened, about 45 seconds. Transfer to a serving platter and serve with rice.


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