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5 Things to Know Today: G7 Oil Release, Pipeline Fast-Track and Ontario's N1 Deadline (Oct. 3)

  Canadian Money Brief • Saturday, October 3, 2026 Markets are closed for the weekend, so here is what moved on Friday and what it means for your wallet as the week turns. Five things worth knowing today. 1. The G7 Is Releasing 100 Million Barrels of Oil and Fuel G7 leaders, Canada included, agreed Friday to release 100 million barrels of crude and refined products from emergency reserves over the next four months, with a front-loaded diesel release in the first 20 days. Washington had been pressing allies to act as fuel prices climbed. Oil barely budged on the news: Brent settled at US$102.25 a barrel and WTI at US$91.11, down US$1.76. Analysts noted it is not yet clear whether the 100 million barrels is new supply or the tail end of the release pledged in March. What it means for you: Diesel comes first, which matters more for freight and grocery costs than for your gas tank. With Brent still around US$100, do not count on a quick drop at the pump. 2. A Weak U.S. Jobs Report Shi...
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Judge Holds Trump in Contempt, Fines Him $9,000 in Hush Money Trial

 

Former President Donald Trump faced a stinging rebuke in court today as Judge Juan M. Merchan held him in contempt and fined him $9,000. The charges stem from Trump’s repeated violations of a gag order that barred him from making public statements about witnesses, jurors, and others connected to his New York hush money case. Prosecutors had alleged ten violations, but the judge found nine to be substantiated.

The historic trial centers around Manhattan prosecutors’ claims that Trump and his associates participated in an illegal scheme to influence the 2016 presidential campaign by burying negative stories. The allegations involve hush money payments and attempts to suppress unflattering rumors and claims about Trump and women. Trump has pleaded not guilty to the charges.

The courtroom was tense as Trump, accompanied by his son Eric, faced the consequences of his actions. The judge’s warning loomed: if Trump violates the gag order again, he could face jail time.

Prosecutors are meticulously building their case, relying on detailed testimony about email exchanges, business transactions, and bank accounts. Their argument is that Trump is guilty of 34 felony counts of falsifying business records in connection with the hush money payments. The trial is leading up to crucial testimony from Trump’s former attorney, Michael Cohen, who went to federal prison after pleading guilty to campaign finance violations and other crimes.

As the trial unfolds, the world watches closely, witnessing a former U.S. president facing criminal charges in a courtroom. The outcome will have far-reaching implications, shaping the legacy of a presidency marked by controversy and legal battles. Stay tuned for further updates as the trial continues.

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