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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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Rising Tensions as U.S. and Israel Strike Iran Amid Calls for Political Change

Smoke rises following an explosion in Tehran, after Israel and the US launched strikes against Iran, in this screengrab obtained from a social media video released on February 28, 2026.

A major military operation unfolded as the United States and Israel launched coordinated strikes across Iran, targeting key sites including areas near the offices of Supreme Leader Ayatollah Ali Khamenei. Reports described smoke rising over Tehran and multiple cities as Iranian media confirmed widespread attacks. 

In a video address released shortly after the strikes began, U.S. President Donald Trump urged the Iranian public to “take over your government,” calling on citizens to “seize control of your destiny” and challenge the leadership that has governed since 1979. His message followed weeks of escalating tensions and warnings directed at Iran over its nuclear program and recent crackdowns on protesters. 

The operation, described by U.S. officials as a large-scale effort to neutralize threats in the region, marks a significant escalation in the long‑standing conflict between Iran and Western powers. Early indications suggest Iran may respond with retaliatory actions, raising concerns about broader regional instability. 

As the situation develops, international observers are watching closely to assess the potential for diplomatic intervention or further military engagement.

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