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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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TSX Ends Year on High Note Despite Recent Dip


Despite closing lower on the last trading day of the year, the Toronto Stock Exchange (TSX) is poised to record its best performance since 2021. The S&P/TSX Composite Index saw a 22% increase over the year, driven by strong performances from key sectors such as technology and healthcare.

While the final trading session saw a slight dip, investor sentiment remains optimistic as the TSX continues to reach new all-time highs. Analysts attribute this success to robust earnings reports and positive economic indicators, suggesting a promising outlook for the coming year.




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