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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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The Royal Canadian Mounted Police (RCMP) have announced a scaled-back search for six-year-old Lily Sullivan and four-year-old Jack Sullivan, who went missing from their home in Lansdowne Station, Nova Scotia, six days ago. Despite the adjustment, authorities emphasize that the investigation remains active and ongoing.

The search, which has involved multiple agencies, helicopters, drones, and hundreds of volunteers, has covered approximately four square kilometers of dense forest. Officials cite challenging terrain, exhaustion among search teams, and the probability of survival as factors in their decision to reduce the scale of operations. However, they stress that efforts will continue, with investigators revisiting key areas to ensure no clues are overlooked.

The children's stepfather, Daniel Martell, expressed gratitude for the extensive search efforts and the support from the community. While authorities maintain that there is no evidence of abduction, Martell remains hopeful and has urged officials to expand the search beyond provincial borders.

RCMP Staff Sgt. Curtis MacKinnon reassured the public that the investigation is far from over. "We’re not packing up, and we’re not giving up," he stated, emphasizing that the search will persist until Lily and Jack are found.

As the community holds onto hope, authorities continue their work, determined to bring the missing children home.

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