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5 Things to Know Today: G7 Oil Release, Pipeline Fast-Track and Ontario's N1 Deadline (Oct. 3)

  Canadian Money Brief • Saturday, October 3, 2026 Markets are closed for the weekend, so here is what moved on Friday and what it means for your wallet as the week turns. Five things worth knowing today. 1. The G7 Is Releasing 100 Million Barrels of Oil and Fuel G7 leaders, Canada included, agreed Friday to release 100 million barrels of crude and refined products from emergency reserves over the next four months, with a front-loaded diesel release in the first 20 days. Washington had been pressing allies to act as fuel prices climbed. Oil barely budged on the news: Brent settled at US$102.25 a barrel and WTI at US$91.11, down US$1.76. Analysts noted it is not yet clear whether the 100 million barrels is new supply or the tail end of the release pledged in March. What it means for you: Diesel comes first, which matters more for freight and grocery costs than for your gas tank. With Brent still around US$100, do not count on a quick drop at the pump. 2. A Weak U.S. Jobs Report Shi...
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Putin Proposes Meeting with Trump to Discuss Ukraine War and Energy Prices

In a recent statement, Russian President Vladimir Putin expressed his desire to meet with U.S. President Donald Trump to discuss the ongoing Ukraine war and energy prices. Putin emphasized the importance of addressing these issues, which have been highlighted by Trump in the early days of his new administration.

Putin acknowledged that serious peace talks with Ukraine would be challenging unless the West pressured Ukrainian President Volodymyr Zelenskiy to cancel a 2022 decree that bars negotiations with the Russian leader. He described Trump as smart and pragmatic, and expressed hope that a meeting could lead to constructive discussions on matters of mutual interest.

Trump, who was recently sworn in for a second, non-consecutive term, has also expressed his willingness to meet with Putin and seek an early end to the conflict. He has criticized the war as "ridiculous" and damaging to Russia's economy.

The proposed meeting marks a significant shift in the Kremlin's approach, as there has been little high-level contact with Western leaders due to the war in Ukraine. Both leaders have indicated their readiness to work together, with Putin noting his "pragmatic and trusting" relationship with Trump.

The potential summit could address various issues, including arms control and energy, given that both countries are major oil producers and consumers. Putin highlighted the need for stable oil prices, which are crucial for both economies.

As the world watches closely, the outcome of this proposed meeting could have far-reaching implications for the ongoing conflict in Ukraine and global energy markets.

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