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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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Israel Approves Plan to Seize Gaza City

 

 A damaged Israeli flag stands in Gaza, as seen from the Israeli side of the border between Israel and the Gaza Strip, on August 7, 2025

In a dramatic escalation of its nearly two-year conflict with Hamas, Israel’s security cabinet has approved a plan to take control of Gaza City, the largest urban center in the Gaza Strip. Prime Minister Benjamin Netanyahu announced the decision early Friday, stating that the Israel Defense Forces (IDF) will prepare to occupy the city while providing humanitarian aid to civilians outside combat zones.

Netanyahu emphasized that Israel does not intend to govern Gaza long-term, but rather aims to establish a security perimeter and eventually hand over control to Arab forces unaffiliated with Hamas or the Palestinian Authority. The move has sparked widespread international condemnation, with leaders from the UN, UK, China, and Turkiye warning of dire humanitarian consequences and calling for restraint.

The plan includes evacuating civilians from Gaza City and launching a ground offensive, though no timeline has been confirmed. Critics within Israel, including military officials and hostage families, have expressed concern that the operation could endanger remaining hostages and further strain the IDF.


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