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Oil Just Hit $110 — Could Canada's Energy Boom Offset the Tariff Pain?

  Published September 13, 2026 · 6 min read Brent crude touched nearly $110 US a barrel when trading opened Friday morning — its highest level since the spring — as renewed Iran-linked strikes on Saudi energy infrastructure rattled global supply. It settled back down to close the week around $104.61, but the direction of travel has been unmistakable: oil is up roughly 9-10% in the past week alone. That's bad news at the pump. But according to a CBC News analysis published this morning, it might not be bad news for Canada's economy overall. The argument: the roughly 0.5% hit to GDP from Trump's tariffs could be more than offset by the windfall Canada earns as one of the world's biggest oil exporters. For a personal finance reader, that's really two separate stories — one that costs you money, and one that might be quietly making some of your money back. Here's how to think about both sides of your own ledger. Why oil is spiking again The latest leg up traces to ...
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TSX Down Almost 100 Points, U.S. Markets Mixed Amid Ongoing Interest Rate Angst

 

Weakness in several sectors, including financials and utilities, led Canada’s main stock index down almost 100 points on Tuesday. Simultaneously, U.S. markets experienced a mixed day of trading. Here’s a closer look at the market dynamics:

Canadian Market Overview

  • The S&P/TSX composite index closed down 97.33 points at 21,642.87.
  • Industrials, utilities, and base metals were among the sectors that contributed to the decline.
  • Investors grappled with ongoing uncertainty surrounding interest rates, which impacted market sentiment.

U.S. Market Insights

  • U.S. equity markets showed resilience by bouncing back from Monday’s fall.
  • The Dow Jones industrial average gained 63.86 points, closing at 37,798.97.
  • The S&P 500 index dipped 10.41 points, settling at 5,051.41.
  • The Nasdaq composite declined 19.77 points, ending at 15,865.25.

Interest Rate Tensions

  • Recent strong economic data reports have made it clear that the U.S. Federal Reserve won’t cut interest rates as soon as many investors had hoped.
  • Fed Chairman Jerome Powell emphasized that the central bank needs more confidence that inflation is sustainably heading toward its target before considering rate cuts.
  • Powell’s comments sent “tremors” through the market, leading to an immediate climb in Treasury yields.

Canadian Perspective

  • In Canada, the latest inflation data supports the case for the central bank to start cutting rates.
  • March’s inflation ticked higher to 2.9%, driven by rising gas prices, but core inflation continued to cool.
  • Senior economist Jules Boudreau believes it’s only a matter of time before the Bank of Canada implements rate cuts.

Currency and Commodities

  • The Canadian dollar traded at 72.35 cents US, slightly weaker than the previous day.
  • Crude oil prices remained steady, with the May contract at US$85.36 per barrel.
  • Natural gas prices saw a modest increase, with the May contract at US$1.73 per mmBTU.

In summary, the markets remain on edge due to interest rate uncertainties. Investors are closely monitoring economic indicators and central bank decisions as they navigate this volatile landscape. Stay tuned for further developments.


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