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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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Moscow Stands Firm on Ukraine Amid Witkoff Leak

 

                                  Witkoff is expected to travel to Moscow next week to discuss the peace plan


Russia has declared it will not make major concessions in ongoing peace negotiations over Ukraine, even as a leaked recording revealed U.S. envoy Steve Witkoff advising Moscow on how to frame proposals to President Donald Trump. The disclosure has sparked controversy, raising questions about the integrity of the diplomatic process and the role of American intermediaries.

The leaked call reportedly showed Witkoff coaching Kremlin aide Yuri Ushakov on how to pitch a peace plan that might appeal to Trump. Russia denounced the leak as an act of "hybrid warfare," claiming it was designed to undermine fragile negotiations. Witkoff, meanwhile, is expected to travel to Moscow next week with other senior U.S. officials to continue discussions on a possible framework to end the nearly four-year war—the deadliest conflict in Europe since World War II.

Ukrainian President Volodymyr Zelenskyy has signaled readiness to advance the U.S.-backed framework but emphasized that disputed points must be resolved with input from European allies. Kyiv and its partners remain wary that leaked details of the plan could tilt too far toward Russian interests.

The episode underscores the deep mistrust surrounding the peace process. While Washington insists its envoy is working toward a viable settlement, critics argue that Witkoff’s advice to Moscow risks legitimizing Russian positions. For its part, the Kremlin has doubled down, insisting that any agreement must reflect its core demands and rejecting the notion of significant concessions.

As Witkoff prepares for high-stakes talks in Moscow, the leak has added fresh tension to already complex negotiations. Whether the U.S. envoy can rebuild trust and steer both sides toward compromise remains uncertain, but the incident highlights the fragile balance between diplomacy, secrecy, and public accountability in efforts to end the war.

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