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U.S.–Iran Strikes Escalate: What It Means for Your Gas Bill and Savings

  ⚡ BREAKING · MAY 8, 2026 By MoneySavings.ca Editorial Team   |  May 8, 2026  |  5 min read The Strait of Hormuz, photographed from space. Approximately 20% of the world's oil supply passes through this narrow waterway. (Image: NASA / Public Domain) American warships were attacked in the Strait of Hormuz on May 7, 2026 — and the U.S. military fired back hard, striking Iranian ports at Qeshm and Bandar Abbas. For Canadians, this isn't just a distant war story. It's a pocketbook issue. 20% of global oil transits the Strait of Hormuz every day $94 projected WTI crude price per barrel if closure continues (CEPR, 2026) 5% of normal shipping traffic still moving through the Strait What Happened — and When The crisis didn't begin overnight. On February 28, 2026, the United States and Israel launched coordinated strikes against Iran, targeting nuclear infrastructure and senior military leadership — including Supreme Leader Ali Khamenei, who was killed in the strik...
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Farmers Protest in Brussels for Better Market Conditions

 


Farmers from across Europe are protesting in Brussels, the EU capital, to demand better market conditions. The farmers are blocking traffic in the city, causing major disruptions. 

The protest is part of a wave of farmer protests that have swept across Europe in recent months. The farmers are demanding that their issues be put on the summit agenda and that they be given better market conditions. The climax of the protest is set for Thursday, when farmers plan to protest outside EU headquarters during a summit of government leaders. The protest is expected to be large and disruptive.


 

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