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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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Global Markets Plunge Amid Tech Sell-Off and Economic Concerns

 

Global markets experienced a significant downturn today, with Japan’s Nikkei 225 index leading the decline, plummeting by 5.8%. This sharp drop follows a tech-driven retreat on Wall Street, where weak manufacturing data has raised concerns about the U.S. economy’s health and the Federal Reserve’s timing on interest rate cuts.

Investors are increasingly worried that the Fed may have missed its window to lower rates, potentially exacerbating economic slowdown risks. The anticipation of a crucial employment report has further fueled market anxiety, with futures for the S&P 500 and Dow Jones Industrial Average also showing declines.

The tech sector has been particularly hard-hit, with Intel’s announcement of a 15% workforce reduction adding to the market’s woes. This move is seen as a response to intense competition from rivals like Nvidia and AMD.

In Europe, major indices followed the downward trend, with Germany’s DAX and France’s CAC 40 both recording losses. The broader impact of these economic concerns is evident as markets worldwide brace for further volatility.


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