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How the Strait of Hormuz Crisis Is Hitting Your Wallet Right Now

Published May 17, 2026  |  Category: Oil Prices & Energy  |  By MoneySavings.ca If you've winced lately at the gas pump or noticed your grocery bill creeping up, you're not imagining it. A geopolitical crisis unfolding halfway around the world — at a narrow strip of water between Iran and Oman — is directly squeezing Canadian budgets. Here's everything you need to know, and what you can do about it. What Is the Strait of Hormuz? The Strait of Hormuz is a narrow waterway just 33 kilometres wide at its tightest point, connecting the Persian Gulf to the open ocean. Despite its modest size, it is the world's single most critical energy chokepoint. Before this crisis, roughly 20 million barrels of oil moved through it every single day — about 20% of all the world's seaborne oil supply, plus significant volumes of liquefied natural gas (LNG). Think of it as the world's energy jugular vein. When it gets blocked, the entire planet feels it. What Happened? On Februa...
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Trump Loses Appeal in E. Jean Carroll Sex Abuse Case

In a significant legal development, former President Donald Trump has lost his appeal to overturn a jury verdict that found him liable for sexually abusing and defaming former magazine columnist E. Jean Carroll. The ruling by the Second U.S. Circuit Court of Appeals comes just a day after Trump hinted at seeking retribution against Carroll on his Truth Social account.

The jury in the May 2023 civil case awarded Carroll $5 million in damages after finding Trump liable for sexual abuse and defamatory remarks made in 2022. Trump's legal team argued that the judge should not have allowed testimony from two other women who accused Trump of sexual misconduct, nor should the infamous Access Hollywood tape have been included as evidence. However, the appeals court upheld the original verdict, stating that the evidence demonstrated a "repeated, idiosyncratic pattern of conduct".

Carroll's attorney, Roberta Kaplan, expressed satisfaction with the court's decision, emphasizing the importance of holding powerful individuals accountable for their actions. Trump, who has consistently denied the allegations, is also appealing a second trial verdict from January, which awarded Carroll an additional $83 million in damages.

This ruling marks another chapter in the ongoing legal battles faced by Trump, as he continues to navigate the repercussions of his actions during and after his presidency.

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