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5 Things to Know Today: Oil Surges, Tariffs Land Tomorrow, Your Gas Tax Break Survives

  Monday, September 7, 2026 — Labour Day | Canadian Money Brief Markets are closed for the holiday, but the week ahead is loaded. Here are five things worth knowing before you head back to your desk tomorrow. 1. Oil Hits a Five-Week High as the Iran Conflict Escalates Crude climbed to $92.06 US/barrel on Saturday — up 17.75% over the past month and nearly 48% year over year — after Iran and the United States exchanged missile strikes this week. Israel's defence minister has threatened "crippling" attacks on Iran's energy infrastructure, the EU has formally joined the US-led sanctions campaign, and US Vice President JD Vance said Washington won't hold peace talks until Iran stops targeting ships in the Strait of Hormuz. What it means for you: Even with the federal gas tax break extended (see #4), pump prices track the price of crude itself. If your tank's getting low, filling up early this week may beat whatever the Strait of Hormuz situation does to prices by...

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Western Discontent Rises Following Liberal Election Victory

In the wake of the recent Liberal election victory, political tensions in Western Canada have intensified. Many Albertans and Saskatchewanians feel increasingly alienated from Ottawa, citing concerns over federal policies that they believe undermine their economic interests. 

Premier Danielle Smith has been vocal about the need for a "reset" in relations between Alberta and the federal government. She has called on Prime Minister Mark Carney to address key issues, including energy development and emissions regulations, warning that failure to do so could lead to a national unity crisis. 

The sentiment of Western alienation is not new, but recent political developments have reignited discussions about secession. Some groups are advocating for a referendum on Western independence, arguing that the region contributes more to Canada’s economy than it receives in return. 

As the new government settles in, the challenge will be to bridge the growing divide between Ottawa and the West. Whether Carney can successfully engage Western leaders and address their concerns remains to be seen, but the stakes for national unity have never been higher.

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