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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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Hamas Rejects Cease-Fire Proposal Amid Escalating Tensions

In a recent development, Hamas has firmly rejected the latest cease-fire proposal, accusing Israel of ignoring its core demands. These demands include an end to the ongoing war and a full withdrawal from Gaza. The statement came shortly after the United Nations Security Council approved a resolution calling for an immediate cease-fire and the release of all hostages held in Gaza.

The vote at the UN provoked a clash between Israel and the United States. Surprisingly, the US decided not to use its veto power, leading to further tensions. In response, Israeli Prime Minister Benjamin Netanyahu canceled a high-level delegation’s planned visit to Washington.

An independent expert working with the U.N.’s top human rights body has also raised concerns. The expert stated that there are “reasonable grounds” to believe that Israel is carrying out genocide in Gaza. Meanwhile, international aid officials report that the entire population of the Gaza Strip—2.3 million people—is suffering from food insecurity, with famine looming in the hard-hit north. The conflict has resulted in over 32,000 deaths and more than 74,000 wounded, with women and children making up two-thirds of the casualties. Additionally, Hamas is still believed to be holding around 100 Israelis hostage, along with the remains of 30 others.

As the situation remains tense, the U.N.'s demand for a cease-fire in Gaza has provoked the strongest clash between the U.S. and Israel since the war began. Israeli and U.S. defense chiefs are set to meet, and global support for Israel’s offensive is waning. All this unfolds against the backdrop of Jerusalem’s festive holiday of Purim, which is now overshadowed by the ongoing conflict.

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