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Oil Prices Are Spiking — Here's What It Means for Your Gas Tank and Grocery Bill

  Published July 17, 2026 Crude oil is trading near one-month highs this week, and if you've filled up your tank recently, you've probably already felt it. The culprit: an escalating conflict in the Middle East that's disrupting one of the world's most important oil shipping routes — and it's starting to show up at Canadian pumps and, eventually, on grocery store shelves. What's happening with oil prices West Texas Intermediate (WTI), the North American benchmark, has been trading around the $79–$80 per barrel range this week — up roughly 5% over the past month. Brent crude, the global benchmark that matters more for what Canadians pay at the pump, has been hovering near $85 per barrel, also near a one-month high. The spike traces back to renewed fighting between the U.S. and Iran. The U.S. reimposed a naval blockade on Iran and has intensified strikes, while Iran has responded with attacks on U.S. bases and threats to disrupt regional energy shipments further. ...
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Turkish President Recep Tayyip Erdogan Meets Hamas Political Leader Ismail Haniyeh in Istanbul


On Saturday, Turkish President Recep Tayyip Erdogan held a significant meeting with Ismail Haniyeh, the head of the political bureau of the Palestinian Resistance Movement Hamas. The closed-door meeting took place at the presidential office within Dolmabahçe Palace in Istanbul. During the encounter, footage released by the Turkish presidency showed Haniyeh and other Hamas leaders posing for photos with Erdogan. Additionally, the Hamas delegation engaged in discussions with the Turkish delegation.

This meeting marks the first time since October 7 that Ismail Haniyeh has met with the Turkish president, and it comes amid ongoing tensions in the region, particularly related to the Gaza war. The discussions likely centered around regional peace efforts and the situation in the Middle East.

The meeting between Erdogan and Haniyeh holds significance given the historical context and the complex geopolitical dynamics in the region. As developments unfold, the world will closely watch for any further outcomes or statements resulting from this high-level engagement.


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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