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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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Legault Gambles on Cabinet Shake-Up to Revive CAQ Ahead of 2026 Vote

                                            Quebec premier François Legault

With just over a year until Quebecers head to the polls, Premier François Legault is set to announce a sweeping cabinet shuffle in a bid to reverse his party’s plummeting popularity. The move comes as the Coalition Avenir Québec (CAQ) grapples with damaging scandals, including a $500-million cost overrun at the province’s auto insurance board and the collapse of a $7‑billion Northvolt battery plant deal that cost taxpayers millions.

Several veteran ministers, including Public Security Minister François Bonnardel, Agriculture Minister André Lamontagne, and Families Minister Suzanne Roy, are stepping aside, either by choice or at the premier’s urging. Legault has also prorogued the legislature until September 30, giving new ministers time to settle into their roles before the fall session begins.

Once dominant, the CAQ now trails far behind the surging Parti Québécois in polls, having lost three consecutive byelections. Legault hopes the reshuffle will inject “new momentum” into his government, but with inquiry findings on the cost overrun scandal due in December, the political road to the October 2026 election remains fraught.


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