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Gas Prices Are Spiking Again — Here's How to Protect Your Wallet as the Iran Conflict Escalates

  Published July 20, 2026 If it feels like you're filling up more often for the same money lately, you're not imagining it. Oil markets jolted higher to start the week, and Canadian drivers are almost certain to see it at the pump in the next few days. What just happened Brent crude — the global benchmark that drives Canadian gas pricing — jumped nearly 4% on Monday to trade above US$90 a barrel, its highest level since mid-June, while U.S. West Texas Intermediate traded near US$84. The move came after the United States and Iran escalated hostilities over the weekend, including strikes on vessels attempting to transit the Strait of Hormuz and an attack on an oil facility in Kuwait. That strait matters enormously to your gas bill: roughly a fifth of the world's oil supply normally passes through it. When shipping through it slows or stalls, traders price in a "risk premium" almost immediately — and that shows up at Canadian pumps within days, not weeks. What it mea...
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Stock Market Today: Rising Treasury Yields Unsettle Investors


In today’s stock market, the Dow Jones Industrial Average (Dow) took the lead in a slide prompted by rising Treasury yields. Investors are grappling with the impact of recent data on interest rates, and the benchmark S&P 500 and Nasdaq Composite also dipped into the red.

Here are the key points:

  1. Treasury Yields Surge: The yield on 5-year Treasurys rose to near four-week highs, while the 10-year yield topped the critical 4.5% level. On Wednesday, the benchmark yield inched up further to trade around 4.57%. These rising yields have raised concerns that the Federal Reserve may keep rates higher for longer.

  2. AI Growth vs. Yield Worries: Despite hopes for AI growth, concerns about bond yields appear to be overshadowing the market. The Nasdaq recently hit a record high following Nvidia’s post-earnings rally, but the surge in yields is causing uncertainty.

  3. Consumer Confidence and Fed Policymaking: Investors are trying to decipher the impact of stronger-than-expected consumer confidence data on Fed policymaking. However, they are bracing for a prolonged wait for any pivot to rate cuts, given the litany of warnings from Fed officials.

  4. Wall Street Strategists’ Views: Wall Street strategists have been closely monitoring rising yields. Michael Kantrowitz, chief investment strategist at Piper Sandler, highlighted that higher rates are now a systemic problem for equities. If the 10-year Treasury yield surpasses 5%, it could spell trouble for most stocks.

  5. Beige Book and Inflation Gauge: The release of the Fed’s Beige Book later today could shed more light on economic conditions. Investors are also awaiting Friday’s reading on PCE (Personal Consumption Expenditures), the central bank’s preferred inflation gauge.

In summary, rising Treasury yields are causing jitters in the stock market, and investors are closely watching Fed signals and economic data. The delicate balance between growth prospects and interest rate concerns remains a focal point for traders.


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