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How the Strait of Hormuz Crisis Is Hitting Your Wallet Right Now

Published May 17, 2026  |  Category: Oil Prices & Energy  |  By MoneySavings.ca If you've winced lately at the gas pump or noticed your grocery bill creeping up, you're not imagining it. A geopolitical crisis unfolding halfway around the world — at a narrow strip of water between Iran and Oman — is directly squeezing Canadian budgets. Here's everything you need to know, and what you can do about it. What Is the Strait of Hormuz? The Strait of Hormuz is a narrow waterway just 33 kilometres wide at its tightest point, connecting the Persian Gulf to the open ocean. Despite its modest size, it is the world's single most critical energy chokepoint. Before this crisis, roughly 20 million barrels of oil moved through it every single day — about 20% of all the world's seaborne oil supply, plus significant volumes of liquefied natural gas (LNG). Think of it as the world's energy jugular vein. When it gets blocked, the entire planet feels it. What Happened? On Februa...
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Pope Francis Shows Resilience Amid Health Setback


Pope Francis, 88, is resting and recovering after a recent health setback during his two-week battle with double pneumonia. The Vatican reported that the Pope experienced an isolated bronchial spasm, which caused a sudden worsening of his respiratory condition. Doctors promptly placed him on non-invasive mechanical ventilation after aspirating vomit that had been inhaled during a coughing fit.

Despite the alarming episode, the Pope remains conscious and alert. Encouragingly, he started his day with coffee and the morning newspapers, signaling a return to some normalcy. The Vatican emphasized that his prognosis remains guarded, but there have been no further respiratory crises overnight.

This health challenge comes as Pope Francis continues to inspire millions with his resilience and dedication, even amidst personal health struggles. The global Catholic community remains united in prayer for his swift recovery.

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