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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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Tensions Rise as Cuba Reports Deadly Clash With Florida-Based Speedboat

 

Vice President JD Vance came to the Capitol to break the tie, meaning he vote was 51-50 for a Republican point of order to dismiss the war powers resolution.



Cuba has reported a deadly confrontation off its northern coast, saying its forces killed four people aboard a Florida‑registered speedboat that allegedly opened fire on Cuban border troops. According to Cuba’s Interior Ministry, the vessel was detected roughly one nautical mile northeast of the El Pino canal in Cayo Falcones before the encounter escalated. 

When Cuban Border Guard officers approached the boat for identification, those on board reportedly began shooting, injuring the commander of the Cuban patrol vessel. Cuban forces returned fire, killing four and wounding six others, who were later evacuated for medical treatment. 

The incident comes at a moment of heightened tension between Cuba and the United States, with officials still working to determine the identities and motives of those aboard the speedboat. Investigations are ongoing as both nations monitor the fallout from the violent exchange.

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