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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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U.S. Military Strike Sinks Suspected Venezuelan Drug Vessel, Killing 11

U.S. President Donald Trump said in a social media post that the targeted vessel was 'transporting illegal narcotics' and 'heading to the United States.'

The United States military has carried out a strike in the southern Caribbean against a vessel allegedly transporting illegal narcotics from Venezuela, President Donald Trump announced on Tuesday. According to Trump, the operation targeted members of the Tren de Aragua gang — a group Washington has designated as a foreign terrorist organization — and resulted in the deaths of 11 people.

Trump said the strike occurred in international waters as the boat was en route toward the United States. He shared a video on social media appearing to show the vessel engulfed in flames following an explosion, though Venezuelan officials questioned the authenticity of the footage, suggesting it may have been artificially generated.

The incident marks the first known military action in the region since the recent deployment of U.S. warships to counter drug trafficking. Venezuelan President Nicolás Maduro did not directly address the strike but accused Washington of seeking control over the country’s natural resources.


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