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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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UN Slashes 2026 Aid Appeal Amid Rising Global Crises

 

FILE PHOTO: A Palestinian girl gestures as she waits to receive food from a charity kitchen, amid a hunger crisis, in Khan Younis, southern Gaza Strip.


The United Nations has announced a sharp reduction in its humanitarian aid appeal for 2026, despite acknowledging that global needs are at an all-time high. The organization is seeking $23 billion, roughly half of what it had hoped for, after donor funding plunged to its lowest level in a decade.

According to UN officials, this cutback means tens of millions of vulnerable people will be left without assistance, as the agency is forced to prioritize only the most desperate cases. The appeal is part of the Global Humanitarian Overview 2026, which originally aimed to reach 135 million people across 50 countries. However, with reduced funding, the UN now expects to provide lifesaving support to just 87 million.

UN aid chief Tom Fletcher described the situation as one of “brutal choices,” noting that humanitarian agencies are overstretched, underfunded, and increasingly under attack in conflict zones. The funding crisis comes at a time when wars, climate disasters, epidemics, and food shortages are intensifying worldwide. In Sudan, for example, the world’s largest displacement crisis continues, while Gaza and Syria face worsening hunger and health emergencies.

The shortfall reflects a broader decline in donor contributions, particularly from Western governments, which provided only $15 billion in 2025, the lowest in ten years. Aid workers warn that the cuts will exacerbate already dire conditions, leaving millions without food, healthcare, or protection.

The UN’s reduced appeal underscores the growing gap between humanitarian needs and available resources. As Fletcher put it, the agency must now focus “life by life,” delivering aid where survival is most at risk.


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