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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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Judge Criticizes Trump Administration Over Venezuela Deportations

A U.S. federal judge has sharply criticized the Trump administration for its handling of deportations involving Venezuelan migrants. The administration's response to a judicial request for detailed information on deportation flights was deemed "woefully insufficient." This comes amid allegations that the administration may have violated a court order temporarily blocking the deportations.

The controversy centers on the use of the Alien Enemies Act of 1798, which the administration invoked to expedite the removal of alleged gang members. Critics, including the American Civil Liberties Union, argue that the law is being misapplied, as it historically pertains to wartime scenarios. The judge has demanded further clarification on the timing and details of the flights, raising concerns about potential constitutional violations if the administration defies judicial decisions.

This case highlights the ongoing tension between the executive and judicial branches, as well as the broader implications for immigration policy and the rule of law. The administration has until next week to provide additional explanations, as the legal battle continues to unfold.

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