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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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North Korea Unveils “Hwasong-20” Missile at Grand Military Parade

Military parade celebrating the 80th anniversary of the founding of the ruling Workers' Party of Korea (WPK), in Pyongyang, North Korea.

North Korea staged a massive military parade in Pyongyang to mark the 80th anniversary of the ruling Workers’ Party, showcasing its newest intercontinental ballistic missile (ICBM), the Hwasong-20.

Leader Kim Jong Un presided over the event, joined by high-ranking foreign dignitaries including Chinese Premier Li Qiang, Russia’s former President Dmitry Medvedev, and Vietnam’s Communist Party chief To Lam. The parade, which began late Friday, featured thousands of troops, armored vehicles, and missile launchers in a display of military might.

State media described the Hwasong-20 as the country’s “strongest nuclear strategic weapon system,” underscoring Pyongyang’s continued push to expand its long-range strike capabilities. Analysts note that while the missile theoretically gives North Korea the ability to target the U.S. mainland, questions remain about its guidance systems and warhead re-entry technology.

The spectacle also highlighted North Korea’s deepening ties with China and Russia, as their delegations stood prominently alongside Kim during the celebrations. The show of force comes amid heightened global tensions and renewed concerns over Pyongyang’s advancing weapons program.


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