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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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Hamas, Islamic Jihad to Return Hostage’s Body Under Ceasefire Deal

A Red Cross vehicle, escorted by a van driven by a Hamas militant, moves in an area within the so-called "yellow line" to which Israeli troops withdrew under the ceasefire, as Hamas says it continues to search for the bodies of deceased hostages seized during the October 7, 2023, attack on Israel, in Gaza City November 12, 2025. 

The armed wings of Hamas and Islamic Jihad announced on Thursday that they will hand over the body of an Israeli hostage at 8 p.m. local time. The remains were reportedly recovered in the southern Gaza city of Khan Younis and will be transferred through the Red Cross as part of ongoing ceasefire arrangements.

This move comes under the U.S.-brokered ceasefire deal, which required Hamas to release surviving hostages in exchange for nearly 2,000 Palestinian prisoners held by Israel. While 20 surviving hostages have already been freed, the militant groups continue to hold several deceased hostages.

The announcement highlights the fragile nature of the ceasefire, which has seen intermittent progress in hostage exchanges and prisoner releases. The Red Cross has played a central role in facilitating these transfers, often under tense conditions along the so-called “yellow line” where Israeli troops have withdrawn.

The identity of the hostage whose body is being returned has not yet been disclosed. For families of those still missing, the handover underscores both the human toll of the conflict and the slow, painful process of resolving hostage cases.


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