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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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Deadly Strikes in Kyiv Shadow U.S.–Russia Peace Talks in Abu Dhabi



As diplomats from the United States and Russia convened in Abu Dhabi to discuss possible pathways to end the war in Ukraine, the conflict on the ground intensified with deadly consequences. Russian missile and drone strikes on Kyiv overnight killed at least six people and wounded more than a dozen, according to Ukrainian emergency officials. The attacks damaged residential buildings and energy infrastructure, leaving parts of the capital without water, electricity, or heating.

The timing of the strikes underscored the fragile nature of the diplomatic push. U.S. Army Secretary Dan Driscoll led the American delegation in Abu Dhabi, following earlier talks with Ukrainian officials in Geneva. The meetings, approved by Russian President Vladimir Putin, are part of a renewed effort by Washington to broker a peace plan. However, the proposals reportedly involve conditions such as limiting Ukraine’s military capabilities and barring NATO membership—terms Kyiv has long rejected as unacceptable.

Meanwhile, Ukraine launched its own counterstrikes in Russia’s Rostov region, killing three people and damaging homes. The tit-for-tat assaults highlight the difficulty of achieving a ceasefire while both sides continue to escalate militarily.

European leaders have warned against any settlement that could amount to capitulation for Ukraine, stressing that a lasting peace must respect Ukraine’s sovereignty and territorial integrity. Ukrainian President Volodymyr Zelenskyy is also expected to engage in further talks with U.S. officials this week, as Kyiv seeks assurances that its interests will not be sidelined in negotiations.

The Abu Dhabi talks are seen as preliminary, laying the groundwork for higher-level engagements in the future. Yet, with missiles still raining down on Ukrainian cities, the gulf between diplomacy and battlefield realities remains stark.


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