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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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Drone Strike Hits Aid Ship Bound for Gaza, Raising Humanitarian Concerns


A vessel carrying humanitarian aid to Gaza was struck by drones while navigating international waters off Malta early Friday, according to the Freedom Flotilla Coalition, the group organizing the shipment. The attack caused a fire onboard, which was later brought under control, but the ship remains at risk of sinking due to damage sustained in the strike.

The ship, named *Conscience*, was carrying 30 international human rights activists alongside aid supplies intended for Gaza. The coalition reported that the drone strike appeared to have specifically targeted the ship’s generator, leaving it without power and causing a breach in the hull. The vessel issued an SOS distress call, prompting Cyprus to dispatch a rescue vessel to assist.

The incident comes amid heightened tensions surrounding humanitarian aid access to Gaza, where the ongoing conflict has led to severe shortages of food, medicine, and other essential supplies. The Freedom Flotilla Coalition has long campaigned against Israel’s blockade of Gaza, with previous attempts to deliver aid by sea facing similar interventions.

Authorities have yet to confirm who was responsible for the drone attack, and there were no immediate reports of casualties. The Israeli military has not responded to requests for comment regarding the incident. 

The strike has intensified concerns over the safety of humanitarian missions attempting to reach Gaza, as aid groups warn that the humanitarian response in the region is on the verge of collapse. 


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