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5 Things to Know Today: Oil Surges, Tariffs Land Tomorrow, Your Gas Tax Break Survives

  Monday, September 7, 2026 — Labour Day | Canadian Money Brief Markets are closed for the holiday, but the week ahead is loaded. Here are five things worth knowing before you head back to your desk tomorrow. 1. Oil Hits a Five-Week High as the Iran Conflict Escalates Crude climbed to $92.06 US/barrel on Saturday — up 17.75% over the past month and nearly 48% year over year — after Iran and the United States exchanged missile strikes this week. Israel's defence minister has threatened "crippling" attacks on Iran's energy infrastructure, the EU has formally joined the US-led sanctions campaign, and US Vice President JD Vance said Washington won't hold peace talks until Iran stops targeting ships in the Strait of Hormuz. What it means for you: Even with the federal gas tax break extended (see #4), pump prices track the price of crude itself. If your tank's getting low, filling up early this week may beat whatever the Strait of Hormuz situation does to prices by...

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A New Era or More of the Same? Putin’s Unprecedented Fifth Term

 


In a widely anticipated outcome, Russian President Vladimir Putin has clinched a fifth term in office following an election process that has drawn international criticism for its lack of genuine competition and freedom. The election, which official results claim Putin won with 87% of the vote, has been described by the White House as ‘preordained’ and hardly reflective of a ‘free or fair’ democratic process.

The victory grants Putin another six years at the helm, extending his rule which has been marked by an increasingly authoritarian grip on power. Critics, including Canada’s Foreign Affairs Minister Mélanie Joly, have voiced concerns over the election’s legitimacy, suggesting that history will not look kindly upon Putin’s tenure.

Despite the controversy, Putin’s win was celebrated by his supporters as a testament to the trust and hope placed in his leadership. However, opposition voices and international observers have condemned the election, pointing to the suppression of dissent, the stifling of independent media, and the absence of credible monitoring as evidence of the election’s orchestrated nature.

As Putin embarks on this new term, the world watches with a mix of anticipation and apprehension, pondering what this extended period of Putin’s leadership will mean for Russia and its relations with the global community.

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