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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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Trump Administration Expands Expedited Deportations Nationwide

The Trump administration has announced a significant expansion of the "expedited removal" policy, which allows for the swift deportation of undocumented immigrants who cannot prove they have lived in the U.S. continuously for two years or more. Previously limited to areas near the southern border, this policy can now be applied anywhere in the country.

The Department of Homeland Security (DHS) stated that this change aims to enhance national security and public safety while reducing government costs. The policy, which took effect on January 21, 2025, is part of a broader crackdown on immigration initiated by President Trump.

Critics argue that the expanded policy could lead to wrongful deportations and legal challenges. Until now, undocumented immigrants detained in the U.S. were given a notice to appear in immigration court, where they could present their case for asylum. The new policy bypasses this process, allowing for immediate deportation if the individual cannot prove their continuous residence in the U.S. for the required period.

The Trump administration has also rescinded guidelines that prevented immigration officers from making arrests in sensitive areas such as schools and churches. This move has raised concerns among immigrant communities and advocacy groups, who fear increased enforcement actions and potential abuses of power.

As the policy takes effect, it remains to be seen how it will impact the lives of undocumented immigrants and the broader immigration landscape in the United States.

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