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5 Things to Know Today: Oil Surges, Tariffs Land Tomorrow, Your Gas Tax Break Survives

  Monday, September 7, 2026 — Labour Day | Canadian Money Brief Markets are closed for the holiday, but the week ahead is loaded. Here are five things worth knowing before you head back to your desk tomorrow. 1. Oil Hits a Five-Week High as the Iran Conflict Escalates Crude climbed to $92.06 US/barrel on Saturday — up 17.75% over the past month and nearly 48% year over year — after Iran and the United States exchanged missile strikes this week. Israel's defence minister has threatened "crippling" attacks on Iran's energy infrastructure, the EU has formally joined the US-led sanctions campaign, and US Vice President JD Vance said Washington won't hold peace talks until Iran stops targeting ships in the Strait of Hormuz. What it means for you: Even with the federal gas tax break extended (see #4), pump prices track the price of crude itself. If your tank's getting low, filling up early this week may beat whatever the Strait of Hormuz situation does to prices by...
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Thousands Cheer at the 120th Toronto Santa Claus Parade, But Future Uncertain

Thousands of spectators lined the streets of Toronto on November 24, 2024, to witness the 120th annual Santa Claus Parade. The festive event featured colorful floats, marching bands, and of course, Santa Claus himself, bringing joy to both children and adults alike. Despite the celebration, organizers have expressed concerns about the parade's future due to rising costs and funding shortfalls.

Organizers have launched a GoFundMe campaign to raise $250,000 to cover the expenses of the parade. So far, they have managed to raise over $136,000, but more support is needed to ensure the beloved tradition continues. The city has committed some funds, and there is hope that federal support will also be forthcoming.

The parade's CEO, Clay Charters, emphasized the importance of the event to Toronto's community and economy, noting that it brings significant economic benefits to local businesses. Mayor Olivia Chow echoed this sentiment, calling the parade an essential part of Toronto's history and culture.

As the city waits for a Christmas miracle in the form of additional funding, the future of the Toronto Santa Claus Parade hangs in the balance.



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