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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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Swedish Royals Return to Canada After Nearly Two Decades

 

Sweden King Carl XVI Gustaf, left, and Queen Silvia of Sweden attend a group photo during the COP30 U.N. Climate Summit in Belem, Brazil, Friday, Nov. 7, 2025. 


The Swedish royal family has arrived in Ottawa today, marking their first official visit to Canada since 2006. King Carl XVI Gustaf, Sweden’s longest-reigning monarch, and Queen Silvia are embarking on a three-day state visit that will include stops in both Ottawa and Montreal.

The royal couple was formally welcomed at Rideau Hall this morning by Canadian dignitaries, including Chief Justice Richard Wagner. Their itinerary features a wreath-laying ceremony at the Tomb of the Unknown Soldier, as well as meetings with Prime Minister Mark Carney and other Canadian officials.

This visit is not only ceremonial but also strategic. The Swedish delegation includes top government ministers such as Industry Minister Ebba Busch and Defence Minister Pål Jonson, along with representatives from dozens of Swedish companies. The trip is expected to strengthen ties between Canada and Sweden in areas such as trade, defence, climate action, and innovation.

The Swedish Royal Court has confirmed that the two nations will launch a new strategic partnership during the visit, focusing on cooperation in defence, green technology, and digital innovation. The presence of Swedish industrial leaders, including representatives from Saab, highlights Canada’s growing interest in European military and aerospace technology.

Beyond politics and business, the visit also emphasizes cultural and people-to-people connections. King Carl XVI Gustaf and Queen Silvia will attend events designed to celebrate the shared values of democracy, sustainability, and innovation that bind Canada and Sweden.

This rare royal visit underscores the importance of Canada-Sweden relations and reflects a renewed commitment to collaboration on global challenges. For Canadians, it is a chance to welcome back the Swedish monarchs after nearly twenty years and to witness the strengthening of an international partnership that spans diplomacy, trade, and cultural exchange.

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