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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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Trump Appoints In-Laws to Key International Roles

 


In a move that underscores his reliance on trusted family members, President-elect Donald Trump has appointed his in-laws, Charles Kushner and Massad Boulos, to significant international positions. This decision marks the second time in as many days that Trump has selected family members for key roles in his administration.

Charles Kushner, the father of Trump's son-in-law Jared Kushner, has been named the U.S. ambassador to France. Kushner, a billionaire real estate developer, was previously convicted on federal charges but received a pardon from Trump in 2020. His appointment is expected to play a pivotal role in engaging with the French government, a key partner in enforcing the ceasefire in Lebanon and countering Iran's nuclear ambitions.

Massad Boulos, the father-in-law of Trump's daughter Tiffany, has been appointed as the senior adviser on Arab and Middle Eastern affairs. Boulos, a billionaire businessman with significant interests in Nigeria and strong connections in Lebanon, was a key figure in Trump's campaign outreach to Arab American voters. His new role positions him as a central figure in post-war efforts for regional peace.

Trump's reliance on family members for critical posts has raised questions about conflicts of interest and nepotism. However, Trump has defended his choices, describing both Kushner and Boulos as accomplished leaders with extensive international experience.

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