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5 Things to Know Today: G7 Oil Release, Pipeline Fast-Track and Ontario's N1 Deadline (Oct. 3)

  Canadian Money Brief • Saturday, October 3, 2026 Markets are closed for the weekend, so here is what moved on Friday and what it means for your wallet as the week turns. Five things worth knowing today. 1. The G7 Is Releasing 100 Million Barrels of Oil and Fuel G7 leaders, Canada included, agreed Friday to release 100 million barrels of crude and refined products from emergency reserves over the next four months, with a front-loaded diesel release in the first 20 days. Washington had been pressing allies to act as fuel prices climbed. Oil barely budged on the news: Brent settled at US$102.25 a barrel and WTI at US$91.11, down US$1.76. Analysts noted it is not yet clear whether the 100 million barrels is new supply or the tail end of the release pledged in March. What it means for you: Diesel comes first, which matters more for freight and grocery costs than for your gas tank. With Brent still around US$100, do not count on a quick drop at the pump. 2. A Weak U.S. Jobs Report Shi...
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Naim Qassem Elected as New Hezbollah Leader Following Nasrallah’s Death

 

In a significant leadership change, Hezbollah has elected Naim Qassem as its new leader following the death of Hassan Nasrallah. Nasrallah, who led the group for nearly three decades, was killed in an Israeli airstrike on Beirut’s southern suburb last month.

Qassem, who has served as Hezbollah’s deputy head for many years, was chosen by the group’s Shura Council. His appointment marks a pivotal moment for Hezbollah as it navigates ongoing regional tensions and internal challenges. In his acceptance speech, Qassem emphasized the group’s resilience and commitment to its cause, vowing to continue Nasrallah’s legacy.

The election of Qassem is expected to influence Hezbollah’s strategic direction and its stance in the broader Middle Eastern geopolitical landscape.


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