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Oil Just Hit $110 — Could Canada's Energy Boom Offset the Tariff Pain?

  Published September 13, 2026 · 6 min read Brent crude touched nearly $110 US a barrel when trading opened Friday morning — its highest level since the spring — as renewed Iran-linked strikes on Saudi energy infrastructure rattled global supply. It settled back down to close the week around $104.61, but the direction of travel has been unmistakable: oil is up roughly 9-10% in the past week alone. That's bad news at the pump. But according to a CBC News analysis published this morning, it might not be bad news for Canada's economy overall. The argument: the roughly 0.5% hit to GDP from Trump's tariffs could be more than offset by the windfall Canada earns as one of the world's biggest oil exporters. For a personal finance reader, that's really two separate stories — one that costs you money, and one that might be quietly making some of your money back. Here's how to think about both sides of your own ledger. Why oil is spiking again The latest leg up traces to ...
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Russia's Role in Stalling Peace Efforts in Ukraine

European foreign ministers convened at a NATO meeting in Brussels, collectively accusing Russia of obstructing U.S.-led peace initiatives aimed at resolving the ongoing conflict in Ukraine. The ministers urged the Trump administration to adopt a firmer stance against Moscow, citing concerns over Russian President Vladimir Putin's commitment to peace.

Despite U.S. President Donald Trump's promise to bring a swift end to the three-year war, recent developments have cast doubt on Putin's intentions. Moscow rejected a U.S. proposal for a 30-day ceasefire in March, even as Ukraine expressed willingness to cooperate. Instead, the warring sides agreed to a limited pause in attacks on energy infrastructure, which both parties accused each other of violating.

British Foreign Minister David Lammy criticized Putin for "dragging his feet" and continuing to bombard Ukraine's civilian population and energy supplies. German Foreign Minister Annalena Baerbock described Putin's negotiation efforts as "empty promises," while French Foreign Minister Jean-Noel Barrot called for a definitive response from Moscow to the ceasefire proposal.

Canadian Foreign Minister Melanie Joly suggested imposing a deadline for Russia to respond, emphasizing the urgency of the situation. The ministers' collective stance reflects growing frustration with Russia's perceived lack of commitment to peace and a call for stronger international pressure.

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