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U.S.–Iran Strikes Escalate: What It Means for Your Gas Bill and Savings

  ⚡ BREAKING · MAY 8, 2026 By MoneySavings.ca Editorial Team   |  May 8, 2026  |  5 min read The Strait of Hormuz, photographed from space. Approximately 20% of the world's oil supply passes through this narrow waterway. (Image: NASA / Public Domain) American warships were attacked in the Strait of Hormuz on May 7, 2026 — and the U.S. military fired back hard, striking Iranian ports at Qeshm and Bandar Abbas. For Canadians, this isn't just a distant war story. It's a pocketbook issue. 20% of global oil transits the Strait of Hormuz every day $94 projected WTI crude price per barrel if closure continues (CEPR, 2026) 5% of normal shipping traffic still moving through the Strait What Happened — and When The crisis didn't begin overnight. On February 28, 2026, the United States and Israel launched coordinated strikes against Iran, targeting nuclear infrastructure and senior military leadership — including Supreme Leader Ali Khamenei, who was killed in the strik...
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Hurricane Beryl Makes Landfall in Yucatan Peninsula, Mexico

 

Early Friday morning, Hurricane Beryl struck Mexico’s Yucatan Peninsula, making landfall near the popular tourist area of Tulum. The storm, which had weakened to a Category 2, carried maximum sustained winds of 110 mph. 

As it barreled toward Tulum, “life-threatening” conditions—including hurricane-force winds, a dangerous storm surge, and heavy rainfall—were expected to impact Mexico’s top tourist destination. Residents in the area were advised to shelter in place, and rip currents were also a concern along the Gulf Coast. The storm is now expected to move over southern Texas this weekend, prompting preparations in the region.

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