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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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Servicemen of the Spalah Unmanned Systems Battalion of the 28th Separate Mechanized Brigade of the Armed Forces of Ukraine attend a basic military exercise, amid Russia's attack on Ukraine, in Kharkiv region, Ukraine November 25, 2025.



The recently unveiled 28-point U.S. peace plan for Ukraine has ignited a storm of criticism after reports revealed it was largely based on a document originally drafted by Russia. The proposal was sent by Moscow to senior U.S. officials in October, shortly after President Donald Trump met with Ukrainian President Volodymyr Zelenskyy in Washington.

The plan includes provisions that mirror long-standing Russian demands, such as territorial concessions in eastern Ukraine and restrictions on Kyiv’s NATO ambitions. These terms have been widely rejected by Ukraine in past negotiations, fueling suspicions that the U.S.-backed framework amounts to a “peace without Ukraine” scenario.

Ukrainian officials, civil society groups, and international allies have denounced the proposal, arguing it undermines Ukraine’s sovereignty and security. Critics say the plan pressures Kyiv into accepting Moscow’s terms while offering little in the way of guarantees against future aggression. The backlash has been swift, with many describing the blueprint as a Russian wish list repackaged as an American initiative.

The White House has avoided direct comment on the Russian origins of the plan, instead highlighting Trump’s optimism about progress. Meanwhile, European allies have drafted counterproposals, seeking to reassert Ukraine’s sovereignty and balance the framework with stronger security guarantees.

While U.S. and Ukrainian delegations have since discussed an “updated and refined peace framework,” skepticism remains high. For many in Kyiv and beyond, the revelation that Washington’s plan was rooted in a Kremlin submission has deepened doubts about its credibility and fairness.

The controversy underscores the fragile trust in international mediation efforts and highlights the difficulty of crafting a peace deal that does not tilt heavily in Russia’s favor. As negotiations continue, the central question remains: can a plan born from Moscow’s blueprint ever deliver a just and lasting peace for Ukraine?

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