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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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Trudeau Announces $15 Billion Boost to Housing Program

 

Prime Minister Justin Trudeau has unveiled plans for a $15 billion increase to the Apartment Construction Loan Program (ACLP) as part of Budget 2024. This significant boost aims to construct a minimum of 30,000 new apartments across Canada.

As part of this announcement, the Prime Minister also introduced the Canada Builds program. This initiative will partner with provinces and territories to build rental housing, providing federal financing under certain conditions. These conditions include complementing federal funding with their own investments, utilizing government, non-profit, community-owned, and vacant lands, and streamlining development approval timelines to no longer than 18 months.

The Apartment Construction Loan Program, launched in 2017, has already committed over $18 billion in loans to support the creation of more than 48,000 new rental homes. With this top-up, the program’s financing is now on track to build over 131,000 new apartments within the next decade. Reforms announced alongside this boost include extending loan terms and broadening access to financing for housing aimed at students and seniors.

This move represents a significant step toward addressing Canada’s housing challenges and ensuring affordable housing options for citizens. As the country continues to grow, initiatives like the ACLP play a crucial role in meeting the housing needs of Canadians.


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