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Gas Prices Are Spiking Again — Here's How to Protect Your Wallet as the Iran Conflict Escalates

  Published July 20, 2026 If it feels like you're filling up more often for the same money lately, you're not imagining it. Oil markets jolted higher to start the week, and Canadian drivers are almost certain to see it at the pump in the next few days. What just happened Brent crude — the global benchmark that drives Canadian gas pricing — jumped nearly 4% on Monday to trade above US$90 a barrel, its highest level since mid-June, while U.S. West Texas Intermediate traded near US$84. The move came after the United States and Iran escalated hostilities over the weekend, including strikes on vessels attempting to transit the Strait of Hormuz and an attack on an oil facility in Kuwait. That strait matters enormously to your gas bill: roughly a fifth of the world's oil supply normally passes through it. When shipping through it slows or stalls, traders price in a "risk premium" almost immediately — and that shows up at Canadian pumps within days, not weeks. What it mea...
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South Korean President Yoon Suk Yeol Fights for Release Amid Rebellion Charges

South Korea’s impeached president, Yoon Suk Yeol, made a case for his release before a Seoul judge on Saturday as the court deliberated on whether to approve a law enforcement request for his formal arrest. Yoon, who has been detained since Wednesday, faces potential rebellion charges linked to his declaration of martial law on December 3, which triggered the country’s most severe political crisis since its democratization in the late 1980s.

The Corruption Investigation Office for High-Ranking Officials, leading a joint investigation with police and the military, requested the Seoul Western District Court to issue a warrant for Yoon’s formal arrest. During the nearly five-hour closed-door hearing, Yoon’s lawyers argued that his decree was a legitimate exercise of his powers and that the rebellion accusations would not hold up in court.

The judge is expected to make a decision by late Saturday or early Sunday. If Yoon is arrested, investigators can extend his detention for up to 20 days, during which they will transfer the case to public prosecutors for indictment. If the court rejects the request, Yoon will be released and return to his residence.

Thousands of Yoon’s supporters rallied near the court, waving banners and shouting slogans calling for his release. The political turmoil continues as the Constitutional Court reviews whether to formally remove Yoon from office or reinstate him.

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