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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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Canada Orders Hikvision to Cease Operations Amid National Security Concerns

In a decisive move underscoring growing scrutiny of foreign technology firms, the Canadian government has ordered Chinese surveillance equipment manufacturer Hikvision to shut down its operations in Canada. The decision, announced by Industry Minister Mélanie Joly, follows a national security review conducted under the Investment Canada Act.

The review, informed by intelligence from Canada’s security agencies, concluded that Hikvision’s continued presence posed a threat to national security. As a result, the company must cease all business activities within the country. Additionally, federal departments, agencies, and Crown corporations are now prohibited from purchasing or using Hikvision products. A government-wide audit is also underway to identify and remove any legacy equipment.

Hikvision, headquartered in Hangzhou, China, has faced international criticism for its alleged role in human rights abuses in China’s Xinjiang region. The company has denied these allegations and expressed strong disagreement with Ottawa’s decision, calling it “unjustified” and “lacking in transparency.”

While the order does not extend to Hikvision’s operations outside Canada, Minister Joly encouraged Canadians to consider the government’s findings when making personal technology choices.

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