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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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Gaza Residents Return Home as Ceasefire Holds: A New Dawn in Northern Gaza

 

In a significant development, tens of thousands of Palestinians began streaming back to northern Gaza on Monday, January 27, 2025, following a breakthrough in hostage negotiations between Hamas and Israel. The ceasefire agreement, mediated by Qatari officials, has paved the way for the return of displaced residents to their homes.

The breakthrough came after Hamas agreed to release three Israeli hostages, including civilian Arbel Yehud, and Israeli forces began withdrawing from key corridors in Gaza. The first crossing point in central Gaza opened at 7:00 a.m. (0500 GMT), allowing residents to start their journey north. Another crossing opened three hours later, permitting vehicles to pass.

Residents, some carrying infants and bundles of belongings, walked along the coastal road by the Mediterranean Sea shore. "It's like I was born again and we were victorious again," said Umm Mohammed Ali, a Palestinian mother, as she joined the miles-long throng.

The return of displaced Gazans marks a moment of hope amid the prolonged conflict. "My heart is beating, I thought I would never come back," said Osama, a 50-year-old public servant and father of five, as he arrived in Gaza City. "Whether the ceasefire succeeds or not, we will never leave Gaza City and the north again," he added.

The ceasefire agreement also includes staggered releases of hostages over six weeks, with around 1,900 Palestinian prisoners expected to be freed in exchange. The humanitarian situation in Gaza remains dire, but the recent developments have brought a surge of aid into the war-torn region.

As families reunite and rebuild their lives, the hope for lasting peace and stability in Gaza grows stronger.


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